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S'pore's core inflation falls to 1.8% in Dec, lowest since November 2021

S'pore's core inflation fell to 1.8 y-on-y in Dec from 1.9% in Nov, drop was due to a moderation in services inflation. Monetary Authority of S'pore (MAS) & Ministry of Trad & Industry (MTI) said on Thursday (Jan 23).

The last time core inflation was lower was in November 2021, when it came in at 1.6%.

On a month-on-month basis, core inflation – which excludes accommodation and private transport – increased 0.5 per cent.

Meanwhile, overall inflation was unchanged at 1.6% on-year in December.

"This was be'cos lower core and accommodation inflation was offset by a milder decline in private transport costs," MAS and MTI said.

On a mth-on-mth basis, overall inflation excludes non-consumption expenditures such like purchases of houses, shares & other financial assets & income taxes – rose 0.3%.

For whole of 2024, core inflation averaged 2.7%, down from 4.2 per cent in 2023.
https://www.channelnewsasia.com/singapor...21-4891346