Summary

• MAS Core Inflation declined to 2.1% on a year-on-year (y-o-y) basis in October, from 2.8% in September.

o This was due to a moderation in services, electricity & gas, and retail & other goods inflation.

o On a month-on-month (m-o-m) basis, core CPI fell by 0.3%.

• CPI-All Items inflation eased to 1.4% y-o-y in October, from 2.0% in September.

o This was driven by slower accommodation inflation and a steeper decline in private transport costs, in addition to lower core inflation.

o On a m-o-m basis, CPI-All Items fell by 0.3%.

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MONETARY AUTHORITY OF SINGAPORE

MINISTRY OF TRADE AND INDUSTRY

25 NOVEMBER 2024