SINGAPORE - Singapore’s core inflation rose in July, driven by a sharp rebound in utility costs alongside rising service fees and food prices.Core inflation - which excludes private transport and accommodation to better reflect household expenses - came in at 2 per cent in July, up from 1.6 per cent in June, according to the Singapore Department of Statistics (Singstat) on August 24.That was the fastest pace since October 2024 according to Singstat data, but below the median estimate of 2.2 per cent in a Bloomberg survey.Overall inflation was 2.2 per cent in July, up from 1.9 per cent in June, due to an increase in accommodation inflation alongside higher core inflation.Electricity and gas prices reversed a 2.9 per cent decline in June to rise 8.7 per cent in July.In a joint statement by the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) on Aug 24, the authorities said the sharp rise was largely due to the increase in the regulated electricity tariff in July.“Elevated global energy prices have led to increases in Singapore’s electricity and gas tariffs and higher transportation fares,” they said.“Global oil prices remain high and volatile while adverse weather conditions are expected to lower agricultural yields and raise Singapore’s imported food prices,” they added.“As higher input costs pass through global supply chains, the prices of a wider range of Singapore’s imported goods and services are expected to pick up in the quarters ahead.”Food inflation edged up to 2.2 per cent in July, from 2 per cent in June, because the prices of food services and non-cooked food increased at a faster pace.Private transport inflation slowed to 8 per cent in July, from 8.4 per cent in June, as the pace of increase in petrol and diesel prices moderated.Retail and other goods inflation eased to 1.4 per cent in July, from 1.7 per cent in June, due to lower inflation in furniture and personal care products.Higher housing rents and maintenance fees pushed accommodation inflation to 0.8 per cent in July, from 0.6 per cent in June.Services inflation rose to 1.7 per cent in July, from 1.5 per cent in June, as airfares and point-to-point transport services prices increased at a quicker pace.MAS and MTI maintained their forecasts made in April that overall and core inflation will average 1.5 per cent to 2.5 per cent in 2026.