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Singapore’s core inflation slows more than expected to 1.9% in November; headline inflation at 1.6%

This may mean that an easing of monetary policy could be on the cards in January, say economists

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Tessa Oh

Tessa Oh

Published Mon, Dec 23, 2024 · 01:00 PM
    • In November, accommodation, services and food prices ease, while inflation for retail and other goods, as well as electricity and gas, maintain pace.
    • In November, accommodation, services and food prices ease, while inflation for retail and other goods, as well as electricity and gas, maintain pace. PHOTO: BT FILE

    SINGAPORE’S core inflation eased more than expected in November, prompting some private-sector economists to predict that the central bank may ease monetary policy settings in January.

    November’s core inflation, which excludes accommodation and private transport, was 1.9 per cent, based on data from the Department of Statistics on Monday (Dec 23). This was a nudge lower than the 2.1 per cent in October and the median forecast of 2.1 per cent by private-sector economists polled by Bloomberg.

    Meanwhile, headline inflation was 1.6 per cent, up from 1.4 per cent in October, but lower than economists’ median forecast of 1.8 per cent.

    Singapore inflationSingapore economy

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