Updated December 26th, 2023 at 16:26 IST
Singapore's November core inflation slows to 3.2%
Core inflation, excluding private road transport and accommodation expenses, decelerated from October's 3.3 per cent.
Singapore's primary consumer price index moderated to 3.2 per cent year-on-year, aligning with expectations, according to official data unveiled on Tuesday. Simultaneously, headline inflation declined to 3.6 per cent.
In a collaborative statement, the Monetary Authority of Singapore and the trade ministry indicated projections for both headline and core inflation to hover between 3.0–4.0 per cent and 2.5–3.5 per cent respectively throughout 2024.
Core inflation, excluding private road transport and accommodation expenses, decelerated from October's 3.3 per cent, while headline inflation decreased from October's 4.7 per cent. November's figures fell below economists' predictions of 3.8 per cent.
The central bank is gearing up to reassess its monetary policy settings next month, having shifted from a semi-annual to a quarterly schedule for policy reviews.
Furthermore, manufacturing data, also disclosed on Tuesday, highlighted a 1.0 per cent year-on-year increase in manufacturing output for November.
(With Reuters inputs)
Published December 26th, 2023 at 16:26 IST
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