Singapore Inflation Remains Stable At 1.2%

(RTTNews) - Singapore consumer price inflation held steady for the second straight month in December, a joint report from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed Friday.

The consumer price index rose 1.2 percent from a year ago, the same as in the previous two months.

MAS core inflation also remained stable at 1.2 percent in December, largely because food and services inflation remained unchanged.

Private transport inflation rose to 3.7 percent from 3.5 percent in November. Meanwhile, services inflation held steady at 1.9 percent, and food prices grew at a stable pace of 1.2 percent.

The decline in electricity and gas prices deepened slightly to 4.2 percent from 4.1 percent on account of a larger decline in electricity costs.

On a monthly basis, overall consumer prices gained 0.3 percent, and core prices increased 0.4 percent in December.

During the year 2025, CPI-All Items inflation averaged 0.9 percent, declining from 2.4 percent in 2024. MAS core inflation was 0.7 percent compared to 2.8 percent in 2024.

Looking ahead, Singapore's imported costs should continue to decline at a slower pace over the course of 2026, the MAS said. Domestically, unit labor cost growth should begin to increase as productivity growth normalizes.

Reflecting these factors, MAS Core Inflation and CPI-All Items inflation are projected to rise in 2026 from their low rates last year.