Singapore’s annual inflation rate slowed to 0.6% in July 2025 from 0.8% in the previous month and slightly below market forecasts of 0.7%. The latest figure marked the lowest reading since January 2021, mainly due to lower prices for clothing and footwear (-4.5% vs -2.3% in June), housing and utilities (-0.6% vs 0.3%), and health (-0.4% vs 2.4%). Additionally, inflation moderated for food (0.1% vs 1.1%), transport (0.1% vs 2.1%), and education (0.2% vs 0.7%). On the other hand, costs rebounded for recreation, sport, and culture (1.4% vs -1.2%). On a monthly basis, consumer prices fell by 0.4%, the sharpest in six months, deepening from a 0.1% decline in the preceding period. Meanwhile, the annual core inflation rate eased to 0.5% in July, the lowest in four months, missing market estimates and the prior month’s 0.6% increase.