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Singapore inflation cools, signaling potential monetary easing

by January 23, 2025
written by January 23, 2025

Investing.com — Singapore’s consumer inflation experienced a cool down last year, aligning with the central bank’s expectations and indicating a possible opportunity for monetary easing.

The consumer price index (CPI) saw a rise of 1.6% last month compared to the same month a year earlier, according to the Department of Statistics. This increase remained steady from November’s growth and was slightly above the median estimate of a 1.55% rise, as predicted by a Wall Street Journal poll of 10 economists.

The core CPI, a closely monitored measure that excludes private road transport and accommodation costs, increased by 1.8% in December from a year prior. This figure is a slight drop from November’s 1.9% growth and slightly above the median estimate of a 1.7% increase.

While the central bank of Singapore does not have a fixed target for inflation, it perceives a core inflation rate slightly below 2% as being in line with overall price stability in the economy.

In 2024, the average core inflation was 2.7%, a significant decrease from the 4.2% rate observed in 2023. The headline measure was recorded at 2.4% versus 4.8% in 2023, indicating that the efforts of policymakers to control price pressures have been successful.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com
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