Singapore's Core Consumer Price Index (CPI), a crucial measure for gauging underlying inflation excluding accommodation and private transport costs, edged down slightly in December 2024. The Core CPI registered a year-over-year increase of 1.80% compared to the same month last year, representing a marginal decline from November's 1.90%.
The latest data, updated on January 23, 2025, highlights a continued moderation in inflationary pressures as the Singaporean economy adapts to evolving global economic conditions. December's figure marks a subtle transition within the economic landscape, suggesting the government's policies aimed at tempering inflationary impacts may be taking effect.
This back-to-back measurement showcases the continued vigilance necessary in managing price stability within the city-state, amid a global backdrop of varying economic dynamics. As Singapore navigates its economic trajectory in 2025, these incremental shifts in the Core CPI will play a vital role in influencing monetary policy decisions going forward.
