Singapore’s core inflation rose to 1.6% year-on-year in June 2026 from 1.4% in May, its highest level since late 2024, while headline Consumer Price Index inflation increased to 1.9% from 1.8%. The rise came as third-quarter household electricity tariffs reached a record 31.91 Singapore cents per kilowatt-hour before GST, up 17% from the previous quarter, and gas tariffs rose 7.1%. A typical four-room HDB household is expected to pay about S$17.14 more per month before GST. Because the tariff increases began filtering into regulated utility bills only from July, June’s inflation reading may understate emerging price pressures. Forecasters expect core inflation to reach 2.3% as soon as July. The Monetary Authority of Singapore (MAS, Singapore’s central bank) responded in its July 2026 policy review by increasing the appreciation pace of the Singapore dollar’s policy band, allowing the currency to strengthen faster and make imports cheaper. MAS and the Ministry of Trade and Industry project average core and headline inflation of 1.5% to 2.5% for 2026, while warning of upside risks from further energy supply disruptions.