Singapore’s annual inflation rate edged up to 1.9% in June 2026 from 1.8% in the previous month, slightly below market expectations of 2%. Still, it marked the highest level since September 2024, suggesting that recent increases in global energy prices and transportation costs are beginning to filter through to domestic prices. Price growth accelerated across several key categories, particularly food (2.1% vs 1.8% in May), housing and utilities (0.3% vs 0.2%), and transport (7.5% vs 7.4%). In addition, services inflation ticked higher to 1.5% from 1.4%, driven largely by higher airfares and holiday-related expenses. On a monthly basis, consumer prices stalled in June after rising 0.7% in the previous month. Meanwhile, core inflation, which excludes accommodation and private transport costs, accelerated to 1.6% from 1.4%. The MAS raised its 2026 core inflation forecast to 1.5%-2.5% from 1%-2%, citing risks that persistent price pressures could dampen household spending and demand.