Singapore’s consumer price index (CPI) slipped into negative territory in January 2026, falling 0.50% month-over-month, according to data updated on 23 February 2026. This follows a modest 0.30% month-on-month increase recorded in December 2025.
On a month-over-month basis, the latest reading indicates a clear reversal in short-term price dynamics. While December’s CPI suggested mild upward pressure on consumer prices, January’s decline points to a cooling in price growth at the start of 2026 compared with the final month of 2025.
The comparison is based on monthly changes: the current figure reflects the change from December 2025 to January 2026, while the previous figure captures the shift from November to December 2025. This move into negative territory will likely draw attention from market participants monitoring inflation trends and their potential implications for Singapore’s economic outlook and policy environment.
