Singapore's Core Inflation Holds Steady at 0.6%, Ahead of Monetary Policy Review

Singapore's core inflation rate, excluding housing and private transportation costs, remained at 0.6% in June from a year ago, the same as May and weaker than the median estimate. The overall inflation rate was 0.8%, with recreation prices falling 2.6% and food inflation at 1%. The data will inform the Monetary Authority of Singapore's policy review on July 30. Economists are divided on whether the MAS will ease monetary policy this month.

Singapore's core inflation rate, excluding housing and private transportation costs, remained at 0.6% in June from a year ago, matching the rate in May. This figure is weaker than the 0.7% median estimate in a Bloomberg News survey [1]. The overall inflation rate was 0.8%, with recreation prices falling 2.6% and food inflation at 1%. These figures will inform the Monetary Authority of Singapore's (MAS) policy review scheduled for July 30.

Economists are divided on whether the MAS will ease monetary policy this month. Some economists, including those at Bank of America, Goldman Sachs, and Barclays, predict an easing of monetary policy due to expected low and stable price pressures [1]. However, economists at Citigroup see a 60% chance that the MAS will hold its policy settings [1].

The latest data follows Singapore's quarterly gross domestic product figures from last week, which showed the economy avoided a technical recession, led by manufacturing and services exports [1]. The MAS is also consulting on measures to enhance investor protection and strengthen investor recourse, including a grant scheme to defray legal costs for retail investors pursuing civil recourse [2].

Meanwhile, Masco Corp (MAS, Financial) announced a significant advancement in the home improvement sector through its subsidiary, Behr Paint Company. In collaboration with Google Cloud, Behr has launched ChatHUE™, an AI-powered tool designed to simplify the paint color selection process for consumers [3]. This initiative aims to enhance customer satisfaction and potentially increase project initiation rates by reducing decision-making friction.

References:
[1] https://www.bloomberg.com/news/articles/2025-07-23/singapore-s-core-inflation-rises-at-the-same-pace-as-last-month
[2] https://sg.finance.yahoo.com/news/mas-consult-ways-enhance-investor-203000635.html
[3] https://www.gurufocus.com/news/2982025/masco-corp-mas-partners-with-google-cloud-for-aipowered-color-selection-mas-stock-news