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Singapore’s core, headline inflation hold steady at 1.2% in November

Official forecasts for 2025 also remain unchanged, at 0.5% for core inflation and 0.5% to 1% for headline inflation

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Elysia Tan

Elysia Tan

Published Tue, Dec 23, 2025 · 01:00 PM — Updated Tue, Dec 23, 2025 · 08:55 PM
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    • Services inflation edged up 1.9% in November, against October’s 1.8%, due to larger increases in the costs of point-to-point transport services and health insurance.
    • Services inflation edged up 1.9% in November, against October’s 1.8%, due to larger increases in the costs of point-to-point transport services and health insurance. PHOTO: BT FILE

    [SINGAPORE] Core and headline inflation remained unchanged from October levels in November on a yearly basis, the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) said on Tuesday (Dec 23), as they maintained their full-year forecasts.

    Core inflation, which excludes accommodation and private transport, was 1.2 per cent in November, similar to that in October. This was because higher services inflation was offset by lower retail and other goods inflation, and a steeper decline in the cost of electricity and gas, the authorities said.

    Headline inflation also came in at 1.2 per cent last month, the same as October, which MAS and MTI said mainly reflected accommodation and core inflation remaining unchanged.

    Singapore inflationconsumer price indexSingapore economyFood pricesenergy prices

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