Consumer Price Developments in July 2025

Summary

• MAS Core Inflation edged down to 0.5% on a year-on-year (y-o-y) basis in July, from 0.6% in June.

  • This was driven by a fall in the prices of retail & other goods, as well as lower electricity & gas inflation.

  • On a month-on-month (m-o-m) basis, core prices fell by 0.1% in July.

• CPI-All Items inflation eased to 0.6% y-o-y in July, from 0.8% in June.

  •  Accommodation inflation fell, in addition to lower core inflation.

  • On a m-o-m basis, CPI-All Items fell by 0.4% in July

Download the full press release [PDF, 323 KB].

MONETARY AUTHORITY OF SINGAPORE
MINISTRY OF TRADE AND INDUSTRY
25 August 2025