Singapore Inflation Rate

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 (-2.3% vs -2.2% in June), information and communications (-2.6% vs -2.4%), and miscellaneous goods and services (-0.4% vs 0%). Additionally, inflation moderated for housing and utilities (0.3% vs 0.9%) and health (2.4% vs 2.8%). On the other hand, costs increased for food (1.1% vs 1%) and education (0.7% vs 0.5%), while it declined at a slower pace for recreation, sport, and culture (-1.2% vs -2.6%). 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.