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Core consumer prices in Singapore remained stubbornly unchanged for the third month in a row on the back of higher costs for food and services ahead of the Lunar New Year and a tax hike, putting a dampener on hopes they would ease more quickly.
Core inflation, which excludes costs of private transport and accommodation and reflects the expenses of Singapore households more accurately, came in at 5.1 per cent year on year.
The figure was unchanged from November and October, which marked the first dip since February 2022. September’s rate was 5.3 per cent.
Meanwhile, December’s headline consumer price index, or overall inflation, fell to 6.5 per cent from November’s 6.7 per cent, on the back of lower private transportation inflation. The December figure is also lower than the 6.6 per cent forecast by analysts.
Associate editor Vikram Khanna joins the show to discuss these numbers and how they may impact Singaporeans.