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Singapore's Core Inflation Steady at 1.2% in November

12/24/2025

45 7 Full Breakdown

Summary

Story summary

Core inflation in Singapore stayed at 1.2% year-on-year in November, unchanged from October, according to the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI).
This stability reflects higher services inflation offset by lower retail prices and a decline in electricity costs.
Overall inflation held at 1.2% as MAS and MTI forecast 2025 at 0.5% and 2026 between 0.5% and 1.5%.

History

Historical Context

In 2001, Singapore's economy contracted by 2.2%, prompting the Monetary Authority of Singapore to lower interest rates to stimulate growth. This monetary easing aimed to manage inflation, which today stands at 1.2%. The MAS's cautious inflation management approach reflects strategies from past economic downturns, highlighting the ongoing challenge of balancing growth and price stability in Singapore's economy.

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Story summary

Core inflation in Singapore stayed at 1.2% year-on-year in November, unchanged from October, according to the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI).
This stability reflects higher services inflation offset by lower retail prices and a decline in electricity costs.
Overall inflation held at 1.2% as MAS and MTI forecast 2025 at 0.5% and 2026 between 0.5% and 1.5%.

1 / 2