Singapore's inflation rose slightly, but core pressures remain mild.

Singapore's consumer inflation accelerated in January, but the increase was lower than expected and not enough to trigger alarms about price growth. The Singapore Department of Statistics said on Monday that the consumer price index rose by 1.4% from the same period last year in January. In December, the CPI rose by 1.2%, while media surveys had predicted a rise of 1.6%. The core CPI in January rose by 1.0% compared to the same period last year, which is a key inflation measurement closely watched by the Monetary Authority of Singapore as it excludes private road transport and accommodation costs. In contrast, the preliminary increase announced in December was 1.2%, with a predicted increase of 1.5% in media surveys. Compared to the previous month, the CPI fell by 0.5% in January, while the core CPI fell by 0.3%. Prior to this, the Monetary Authority of Singapore maintained its monetary policy unchanged at its first meeting in 2026 and predicted an increase in inflation and relatively robust economic growth. The Singapore Financial Management Authority said at the end of January that "the current growth and inflation outlook are tilted to the upside."