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Saturday, 24 October 2026

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Singapore Inflation Eases in September, Dividing Economists Over MAS Policy Tightening

Singapore's core inflation eased to 2.0% in September, below expectations, leaving economists divided over whether MAS will tighten monetary policy in early 2027.

By Bernard Lee5 min read

Singapore, 24 October 2026 – Singapore’s core inflation eased to 2.0% year-on-year in September 2026, from 2.2% in August, while headline inflation moderated to 2.2% from 2.3%, according to official figures released on 23 October by the Monetary Authority of Singapore (MAS) and the Ministry of Energy, Trade and Industry. Both readings came in below economists’ consensus forecasts, raising fresh questions about whether the central bank needs to tighten monetary policy further in the coming months.

For Asian businesses and investors, the softer inflation figures offer some reassurance that Singapore’s price pressures are not accelerating as quickly as expected. However, economists remain divided over the outlook, with higher energy costs, food prices and strong artificial intelligence-related investment continuing to pose inflation risks. The uncertainty is particularly relevant to regional currency markets, trade and companies exposed to Singapore’s technology-driven economy.

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Author

  • Bernard is a social activist dedicated to championing community empowerment, equality, and social justice. With a strong voice on issues affecting grassroots communities, he brings insightful perspectives shaped by on-the-ground advocacy and public engagement. As a columnist for The Ledger Asia, Bernard writes thought-provoking pieces that challenge norms, highlight untold stories, and inspire conversations aimed at building a more inclusive and equitable society.