Singapore's Consumer Prices Rise Unexpectedly by Most Since January -- Update

Dow Jones11-24

By Amanda Lee

SINGAPORE--Singapore's consumer-price growth accelerated last month, rising by the most since January on account of a larger increase in private transport prices and higher core inflation.

The consumer-price index rose 1.2% in October from a year earlier, topping September's 0.7% increase and the median estimate for a 0.9% rise in a Wall Street Journal poll. The last time headline inflation ran that hot was in January.

Core CPI--a measure closely watched by the central bank that excludes private road transport and accommodation costs--also rose 1.2% from a year earlier.

That marked the sharpest acceleration for core CPI since December last year, and a significant jump from a 0.4% increase seen in September and the 0.5% rise expected in the WSJ poll.

Looking ahead, the Monetary Authority of Singapore and the Ministry of Trade and Industry expect imported costs to continue to decline in the months ahead, but at a slower pace.

Global crude oil prices are tipped to fall more gradually in 2026, and regional inflation is expected to pick up modestly, the MAS said in statement with the MTI.

"On the domestic front, administrative factors temporarily dampening inflation are expected to continue tapering over the coming quarters," they added.

Core inflation is projected to come in at around 0.5% this year, before rising to between 0.5% and 1.5% the next. Headline inflation is expected to average 0.5% to 1.0% this year, and at 0.5% to 1.5% in 2026.

While the MAS doesn't have an explicit inflation target, it views average core inflation just below 2% as consistent with overall price stability.

MAS and MTI noted that the inflationary outlook is subject to uncertainties, flagging risks from supply shocks, including from geopolitical developments.

MAS is slated to deliver its next monetary policy statement by the end of January.

 
 
Sector                        Index Weighting    % Change YoY 
 
Housing & Utilities                   29.38%             +0.3 
Food                                  20.42%             +1.2 
Transport                             13.07%             +3.4 
Recreation, Sport & Culture            5.95%             +1.1 
Education                              5.79%             +1.1 
Misc Goods & Services                  4.38%             +0.3 
Information & Communication            3.81%             -2.5

Write to Amanda Lee at amanda.lee@wsj.com

(END) Dow Jones Newswires

November 24, 2025 02:02 ET (07:02 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Singapore's Consumer Prices Rise Unexpectedly by Most Since January -- Update

At the request of the copyright holder, you need to log in to view this content

Comments