Summary

• MAS Core Inflation fell to 0.8% on a year-on-year (y-o-y) basis in January, from 1.7% in December.
  • This was driven by lower inflation across all broad core CPI categories.
  • On a month-on-month (m-o-m) basis, core CPI declined by0.2%. 
• CPI-All Items inflation eased to 1.2% y-o-y in January, from 1.5% in December.
  • This reflected a moderation in accommodation inflation, in addition to the fall in core inflation.
  • On a m-o-m basis, CPI-All Items declined by 0.7%.

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  MONETARY AUTHORITY OF SINGAPORE

  MINISTRY OF TRADE AND INDUSTRY

  24 FEBRUARY 2025