Inflation & Prices
Singapore Retains Inflation Outlook Despite Surprise Pick-Up
- Dec. core inflation accelerated to 3.3%, above all estimates
- MAS and MTI kept 2024 core inflation estimate at 2.5%–3.5%
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Singapore’s core inflation unexpectedly picked up pace in December yet authorities retained their 2024 outlook, a signal that while price pressures in the city-state prove persistent, they remain manageable.
The core measure, which excludes housing and private transportation costs and is tracked by the Monetary Authority of Singapore, accelerated to 3.3% last month from a year ago, according to the Department of Statistics on Tuesday. The MAS is scheduled to decide on policy on Jan. 29.