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Singapore’s core inflation at 5.1% in December, averaged 4.1% for 2022

Singapore’s core inflation at 5.1% in December, averaged 4.1% for 2022

SINGAPORE: Singapore’s core inflation came in at 5.1 per cent a year-on-year (y-o-y) basis in December, unchanged from November, according to the Monetary Authority of Singapore (MAS) and the republic’s Ministry of Trade and Industry (MTI).“Smaller price increases for retail and other goods and electricity and gas were offset by higher inflation for food and services,” MAS and MTI said in a joint statement today.MAS, the central bank, monitors a core inflation measure that excludes the accommodation and private transport components as they tend to be significantly influenced by supply-side administrative policies and are volatile.Meanwhile, the consumer price index (CPI)-All Items inflation eased to 6.5 per cent y-o-y in December, from 6.7 per cent in November due mainly to slower private transport inflation, said the statement.On a monthly basis, core CPI increased by 0.6 per cent while CPI-All Items rose by 0.2 per cent.For 2022 as a whole, MAS core inflation averaged 4.1 per cent, h

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