Singapore Inflation Climbs to 13-Month High

Singapore’s annual inflation rate rose to 1.4% in January 2026, the highest reading since December 2024, accelerating from 1.2% in December. The main upward pressure came from a sharp increase in housing maintenance and repair costs, which surged to 27.9% (vs 1.6% in December). Inflation also picked up in housing and utilities (1.7% vs 0.2%), healthcare (4.4% vs 4.2%), and recreation, sport and culture (0.6% vs 0.3%). Meanwhile, food inflation held steady at 1.2%, as declines in rice (-1.9% vs -4.1%) and leafy vegetables (-2.4% vs -2.1%) were offset by higher prices for cakes and pastries (2.1% vs 1.3%), and breakfast cereals (1.7% vs -0.8%). Transport inflation also slowed to 2.4% (vs 3.6%), while deflation persisted for clothing & footwear (-0.4% vs -1%), and information and communication remained in deflation (-1.9% vs -2%). Core inflation was unchanged at 1.2%. On a monthly basis, CPI fell 0.5%, the first decline since late July, following a 0.3% increase in December.