Summary

• Both MAS Core Inflation and CPI-All Items inflation came in at -0.1% on a year-onyear (y-o-y) basis in November, compared to -0.2% in October.
  • The slower rate of decline in November was mainly due to a smaller fall in the costs of services and electricity & gas, as well as higher food inflation.
  • Meanwhile, private transport and accommodation inflation stayed broadly unchanged in November compared to October.

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