Last Updated: 23 Sep 2026
MAS Core Inflation is a measure of inflation monitored by the Monetary Authority of Singapore (MAS) that includes "Food", "Electricity & Gas", "Services" and "Retail & Other Goods", but excludes the CPI components of "Accommodation" and "Private Transport". MAS Core Inflation is meant to capture generalised and persistent price changes that are driven by underlying demand conditions, for the purposes of informing monetary policy. "Accommodation" and "Private Transport" are excluded from MAS Core Inflation as they tend to be significantly influenced by supply-side administrative policies and are volatile.
The list of CPI items included in MAS' classification of "Services" and "Retail & Other Goods" can be found in this PDF (191.1 KB).
For further information on CPI indices and categories, refer to the Department of Statistics' (DOS) Information Paper titled "Rebasing of the Consumer Price Index (Base Year 2024 = 100)", which can be downloaded from www.singstat.gov.sg .
More detailed data on the components of CPI can be downloaded from www.tablebuilder.singstat.gov.sg .
Data on MAS Core Inflation is published on the 23rd of every month following the reference month, or on the following working day if the 23rd falls on a Saturday, Sunday or public holiday.