Singapore's inflation slowed sharply in November, with the consumer-price index rising by 3.6%, the lowest reading this year. Car prices rose much slower, driving down private transport inflation. Transportation costs, housing and utilities costs, and food prices also showed notable increases. Core CPI, which excludes certain costs, also slowed. For 2023, inflation is expected to average around 5%, with core inflation projected to hover around current levels and reach the upper end of the guidance range. Inflation is projected to average 3.0%-4.0% in 2024, with risks from global energy and food prices and domestic job market tightness persisting.

Singapore's Inflation Slows in November