Singapore core inflation edges up to 3.3% in October, breaking streak of slower price increases

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On November 23, 2023, core consumer prices in Singapore picked up in October after rising at a slower pace for several months, owing to higher inflation for services and retail goods and an increase in electricity and gas costs.

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Consumers can expect more volatility in overall inflation in the coming months amid swings in certificate of entitlement (COE) premiums and global oil prices, although prices are expected to moderate in 2024.

Official data on Nov 23 showed that core inflation, which excludes private transport and accommodation costs to better reflect the expenses of Singapore households, stood at 3.3 per cent year on year in October.

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