Singapore’s consumer price inflation picked up slightly at the start of 2026, with the Consumer Price Index (CPI) rising 1.4% year-over-year in January 2026, compared with a 1.2% increase in December 2025. The data, updated on 23 February 2026, suggest a mild firming of price pressures but still point to a relatively benign inflation environment.
On a year-over-year basis, the January reading means prices were 1.4% higher than in January a year earlier, while December’s figure reflected a 1.2% increase versus December a year before. The comparison underscores a gradual uptick rather than a sharp acceleration, which will be closely watched by markets assessing the trajectory of inflation in Singapore.
The year-over-year framework used for these figures compares each month’s price level with the same month in the previous year. In this context, the latest move from 1.2% to 1.4% will inform expectations about future monetary and fiscal policy, as investors gauge whether the modest increase signals the start of a trend or a temporary fluctuation in consumer prices.
