Singapore’s core inflation rate rose to 2% in July, marking a near two-year high. This increase is primarily attributed to rising utility bills, directly impacted by persistent elevated global energy prices. The data indicates households are increasingly feeling the strain of international energy market conditions. While overall inflation remains moderate, the uptick in core inflation—which excludes private transport and accommodation—is a key concern for policymakers. The Monetary Authority of Singapore (MAS) is closely monitoring the situation, and further adjustments to monetary policy may be considered. This rise signals potential challenges for maintaining economic stability in the coming months as energy costs continue to fluctuate. The 2% figure highlights a significant shift and warrants continued observation for its broader economic implications.