Singapore's core inflation at 5.1 pct in November 2022

Published date23 December 2022
Publication titleASEAN Tribune

23 December 2022 (NAM NEWS NETWORK) SINGAPORE- Singapore's core inflation stood at 5.1 per cent on a year-on-year (y-o-y) basis in November 2022, unchanged from October, according to the Monetary Authority of Singapore (MAS) and the republic's Ministry of Trade and Industry (MTI).

'This was because smaller increases in the costs of services and electricity and gas were broadly offset by a steeper pickup in the costs of retail and other goods and food,' said MAS and the ministry in a joint statement Friday.

The central bank's monitoring of core inflation measures excludes the components of 'Accommodation' and 'Private Transport'.

These items are excluded as they tend to be significantly influenced by supply-side administrative policies and are volatile, said the statement.

It also said the consumer price index (CPI)-all items inflation also remained unchanged in November, relative to October, at 6.7 per cent y-o-y.

CPI-all items inflation remained unchanged as lower inflation for services and electricity and gas was broadly offset by higher inflation for retail and other goods and food.

At the same time, the decline in private transport and accommodation inflation was marginal, it said.

As for the headline inflation, it held steady as core inflation was unchanged while private transport and accommodation inflation moderated...

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