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Singapore Inflation Holds at 1.8% in May as Services Costs Ease

6/23/2026

Singapore's headline inflation rate held at 1.8% in May, coming in cooler than expected as services costs eased.

Core inflation — the measure that excludes accommodation and private transport costs — registered 1.4%, giving investors a less-distorted gauge of underlying price trends in the city-state.

What the Numbers Actually Measure Singapore publishes two distinct inflation figures, and the difference matters. The headline rate captures the full consumer basket.

Core inflation omits accommodation and private transport from the calculation — two categories prone to swings driven by policy decisions or supply shocks rather than genuine underlying demand.