Source:
Apple Intelligence:
- Core Inflation Rate: Singapore’s core inflation rate decreased to 0.8% year-on-year in January, the lowest since June 2021.
- Inflation Rate Components: The decline is attributed to a moderation in goods and services prices and the fading impact of past GST hikes.
- Headline Inflation Rate: Overall inflation eased to 1.2% year-on-year in January, surpassing economists’ expectations.
- Inflation Forecast: Singapore’s imported inflation is expected to remain moderate, with unchanged 2025 inflation forecasts.
- Core Inflation Trend: Core inflation experienced a sharp decline, driven by drops in electricity and gas, accommodation, and services.
- Monetary Policy Implication: The sharp fall in inflation suggests a potential easing of monetary policy, possibly at the April meeting.
- Overall Inflation Trend: Inflation eased in January, with electricity and gas prices falling significantly.
- Price Changes in Specific Categories: Retail and other goods prices fell, while private transport costs rose due to higher car prices.
- Inflation Rates in Different Sectors: Food inflation moderated, services inflation dipped, and accommodation inflation eased.
