SINGAPORE: Singapore’s inflation dropped sharply in October, with core and overall inflation falling more than expected.
Economists and government officials project inflation to stay controlled throughout 2025 as the easing trend continues., which excludes volatile categories like private transport and accommodation to better reflect household cost of living, saw a significant decline in October., it fell to 2.1% year-on-year, down from 2.8% in September. This marks the lowest rate since December 2021, well below economists’ forecast of 2.5%.
The decline was largely driven by slower price increases in services, utilities like electricity and gas, and retail goods. Headline inflation, which includes all categories, also saw a significant drop to 1.4% year-on-year in October, down from 2% in September. For the full year of 2024, overall inflation is expected to average 2.5%, down significantly from 4.8% in 2023.As inflation moderates, the MAS may adjust its monetary policy stance, which has favoured a stronger Singapore dollar to curb rising prices.Buy fish if you can’t afford chicken as President Halimah once said — Netizens remember her words after Malaysia to halt chicken exports
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