By MoneyBees
Singapore's latest inflation rate (2.3% headline, 2.2% core in Aug 2026), whether your pay rise beat it, and your real salary in future years.
Headline inflation was 2.3% in August 2026 and MAS core inflation was 2.2%, SingStat and MAS said on 23 September 2026. The next figures come out about a month later.
Headline CPI-All Items inflation averaged 0.9% in 2025, down from 2.4% in 2024 and 4.8% in 2023. The peak in recent years was 6.1% in 2022.
In its July 2026 policy statement MAS projected both headline and core inflation to average 1.5% to 2.5% in 2026.
Divide your new salary by your old one, divide by one plus the inflation rate, then subtract one. A 3% raise against 2.3% inflation is a real raise of about 0.68%.
Headline inflation covers everything in the Consumer Price Index. MAS core inflation leaves out accommodation and private transport, so it shows the underlying trend.
Headline inflation is closer to your own cost of living if you rent or drive. Core inflation is steadier and is what MAS watches when it sets policy.
At least the inflation rate. With 2.3% inflation, a S$5,000 salary needs to become S$5,115 to buy the same things.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).