Summary

• MAS Core Inflation eased to 1.9% on a year-on-year (y-o-y) basis in November, from 2.1% in October.
  • This was due to a moderation in food and services inflation.
  • On a month-on-month (m-o-m) basis, core CPI was unchanged (i.e., 0.0%).
• CPI-All Items inflation increased to 1.6% y-o-y in November, from 1.4% in October.
  • This was driven by a more gradual decline in private transport costs, which outweighed the fall in core inflation.
  • On a m-o-m basis, CPI-All Items was unchanged (i.e., 0.0%).

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MONETARY AUTHORITY OF SINGAPORE

MINISTRY OF TRADE AND INDUSTRY

23 DECEMBER 2024