Singapore Core Inflation Hits 1.6% as Record Electricity Tariffs Squeeze Households

Singapore core inflation climbs to 1.6% as record energy tariffs squeeze household utility budgets. MAS core inflation hit 1.6% year-on-year in June 2026, marking its highest reading since late 2024. Household electricity tariffs for the third quarter jumped 17% to a record 31.91 cents per kilowatt-hour before GST. The utility rate hikes trace back to earlier Middle East supply chain disruptions that drove global energy prices higher. In response, the central bank tightened monetary policy by increasing the appreciation pace of the Singapore dollar to make imports cheaper. Supply chain lag is finally hitting retail consumers, and letting the currency run hot is the only lever the central bank has left to rely on.