# Singapore inflation increase

> Live situation record from CLSTR: https://clstr.news/situations/singapore-inflation-increase
> Updated: 2026-08-30T00:45:00.000Z. Sources: 5. Developments: 2.

Singapore reported that consumer inflation accelerated to 2.2% year-on-year in July, marking its highest level in nearly two years. This rise was primarily driven by higher electricity costs and energy prices linked to the war in Iran. While headline inflation rose, core inflation—which excludes private transport and accommodation—increased to 2.0%.

The spike in electricity and gas costs was specifically noted as a major driver, with inflation in that category swinging from -2.9% to +8.7% following a 17% jump in regulated household electricity tariffs. 

In response to these economic pressures, the Monetary Authority of Singapore implemented monetary tightening in July. The government has also deployed support packages totaling approximately 2 billion Singapore dollars, including tax rebates and cash handouts. Meanwhile, the local market has seen the banking sector benefit from rising rates, even as rate volatility impacts real estate investment trusts.

## Timeline

### 2026-08-30: Singapore inflation rises to 2.2% amid energy cost spikes

Singapore's headline inflation rose to 2.2%, driven by higher electricity costs, while the local market sees banking strength and REITs struggling amid rising yields.

2 sources. https://clstr.news/cluster/singapore-inflation-rises-to-22-amid-energy-cost-spikes

### 2026-08-24: Singapore inflation rises to near two-year high in July

Singapore's July inflation rose to 2.2% year-on-year, a near two-year high, though it missed economist expectations of 2.3%.

4 sources. https://clstr.news/cluster/singapore-inflation-rises-to-near-two-year-high-in-july

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Cite as: Singapore inflation increase. CLSTR, https://clstr.news/situations/singapore-inflation-increase