Economists Predict Possible Easing of Monetary Policy Following Lower-than-Expected Inflation
Singapore’s core inflation rate dropped to 1.9% in November, easing more than expected, according to data from the Department of Statistics. This marks a decrease from October’s 2.1% and is lower than the median forecast of 2.1% by private-sector economists. The overall headline inflation was recorded at 1.6%, up from 1.4% in October, but still lower than the anticipated 1.8%.
The decline in core inflation, driven by easing prices for accommodation, services, and food, has led some economists to predict that the central bank may adjust its monetary policy settings in January. While inflation for retail goods, electricity, and gas remained steady, the overall data signals a potential shift in the economic landscape, potentially influencing decisions regarding future monetary tightening or easing.
