Summary

·         MAS Core Inflation eased to 0.3% year-on-year (y-o-y) in August, from 0.5% in July.

o   This was mainly driven by a moderation in services inflation.

o   On a month-on-month (m-o-m) basis, core prices grew by 0.1% in August.

·         CPI-All Items inflation edged down to 0.5% y-o-y in August, from 0.6% July.

o   This reflected lower accommodation inflation, in addition to the fall in core inflation.

o   On a m-o-m basis, CPI-All Items rose by 0.5% in August.

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MONETARY AUTHORITY OF SINGAPORE

MINISTRY OF TRADE AND INDUSTRY

23 September 2025