Singapore Inflation Stable At 1.2%

(RTTNews) - Singapore consumer prices logged a steady increase in November, a joint report from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed Tuesday.

The consumer price index rose 1.2 percent from a year ago, the same rate of growth as seen in October.

MAS core inflation also held steady at 1.2 percent in November. 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.

Private transport inflation eased to 3.5 percent on the back of a smaller increase in car prices. Retail and other goods inflation softened to 0.3 percent as prices of clothing and footwear and other appliances for personal care declined.

Electricity and gas prices declined more sharply on account of a larger decline in electricity costs.

Accommodation costs posted a steady growth of 0.3 percent. Likewise, food inflation was unchanged at 1.2 percent. Services inflation edged up to 1.9 percent due to larger increases in the costs of point-to-point transport services and health insurance.

On a monthly basis, overall consumer prices gained 0.2 percent, while core prices edged down 0.1 percent in November.

MAS core inflation was projected to come in at around 0.5 percent in 2025 before rising to 0.5-1.5 percent in 2026. Overall inflation is expected to average 0.5-1.0 percent in 2025 and 0.5-1.5 percent next year.