XINHUA – Singapore’s inflation, as measured by consumer price index (CPI), edged down in November due to slower price growth of retail goods, food, electricity and gas, official data showed.
The core inflation, which excludes private transport and accommodation costs, was 3.2 per cent year-on-year in November, lower than the 3.3 per cent in October, according to the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS).
The all-items inflation fell to 3.6 per cent year-on-year in November, from 4.7 per cent in October, due to lower private transport costs.
The MTI and MAS estimate that all-items inflation in Singapore is expected to average around five per cent this year and core inflation around four per cent.
In 2024, the overall and core inflation are projected to average three to four per cent and 2.5 to 3.5 per cent, respectively, according to the two government agencies.
