Singapore’s core inflation eased in April 2026 due to lower services and retail goods inflation, while overall consumer inflation remained unchanged at 1.8%, according to MAS and MTI.
Singapore’s core inflation slowed in April 2026 as price increases for services and retail goods eased, according to the latest “Consumer Price Developments in April 2026” report released by the Monetary Authority of Singapore and the Ministry of Trade and Industry.
MAS Core Inflation fell to 1.4% year-on-year in April, down from 1.7% in March. On a month-on-month basis, core prices increased slightly by 0.2%. Meanwhile, CPI-All Items inflation remained unchanged at 1.8% year-on-year in April, although it declined by 0.3% compared to March on a monthly basis.
The report stated that higher private transport and accommodation inflation was offset by lower inflation in services and retail goods. Private transport inflation rose from 6.6% in March to 8.1% in April due to larger increases in petrol and car prices.
Accommodation inflation edged up from 0.3% to 0.4% because of higher housing rents. Food inflation remained stable at 1.6% year-on-year, while retail and other goods inflation eased from 1.8% to 1.5%. Electricity and gas prices continued to decline, although at a slower pace, moving from -4.3% in March to -3.0% in April.
Services inflation also fell from 2.1% in March to 1.5% in April, mainly due to smaller increases in health insurance costs and lower telecommunication services prices.
Looking ahead, MAS and MTI said imported cost pressures are expected to increase in the coming months as higher global energy and input costs linked to developments in the Middle East affect production and transportation costs worldwide.
The authorities projected that both MAS Core Inflation and CPI-All Items Inflation will average between 1.5% and 2.5% in 2026. However, they noted that risks to the inflation outlook remain tilted to the upside due to potential disruptions in global energy supplies and supply chains.
The report was jointly released by the Monetary Authority of Singapore and the Ministry of Trade and Industry on 25 May 2026.
Source: MTI
