Singapore core inflation at 1.2% y/y in December

SINGAPORE, Jan 23 (Reuters) - ⁠Singapore's key ⁠consumer ‍price gauge rose 1.2% in December from a year earlier, ‍official data showed on Friday.

The core inflation ​rate, which excludes private road transport and accommodation ​costs, matched the median forecast of 1.2% by a Reuters poll of economists.

Headline inflation was 1.2% in ​annual terms in December, matched the poll forecast of 1.2%.

For 2025, Singapore's core ​inflation averaged 0.7%, down from 2.8% in 2024. Headline inflation ‌averaged 0.9% over the same period, down from 2.4% in the previous ​year.

In a joint press ⁠statement on Friday, the Monetary Authority of Singapore and the ‌Ministry for Trade and Industry said core and headline inflation are projected to rise in ‌2026 from their low levels in 2025.

"On the ‌domestic front, unit labour cost growth should begin to increase as productivity growth normalises. Meanwhile, private ‍consumption demand is likely to remain steady," the statement said.

MAS will ⁠release updated inflation forecast ranges for 2026 on Jan 29, when it releases its monetary policy statement.

(Reporting by Jun Yuan Yong; Editing by David Stanway)

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