Singapore consumer inflation remains steady at 1.2% in November, missing estimates
The reading was lower than Reuters-polled analysts' median estimates of 1.3%.
TL;DR
- Singapore's November inflation was 1.2%, lower than the estimated 1.3%.
- Core inflation also stood at 1.2%, missing the projected 1.3%.
- Higher costs for point-to-point transport and health insurance drove services inflation.
- Slower inflation for retail goods was attributed to declining clothing, footwear, and personal-care appliance prices, alongside falling electricity costs.
- Core inflation is projected to be around 0.5% in 2025, rising to 0.5%-1.5% in 2026.
- Headline inflation is forecasted to average 0.5%-1.0% in 2025 and 0.5%-1.5% in 2026.
- Singapore's non-oil exports increased by 11.6% year-on-year in November, surpassing the 7% estimate.
- The economy grew by 4.2% in the third quarter, exceeding the expected 4% expansion.
- The annual GDP forecast was revised to 'around 4%' for the current year and 1%-3% for 2026.
- MAS has maintained its monetary policy steady for the past two meetings.