Singapore's inflation rate hits 1.4%, lowest since 2021, as core prices and rents rise more slowly.

Singapore's inflation rate dropped to 1.4% in October, the lowest since March 2021, due to lower car costs and slower rental price increases. Core inflation fell to 2.1%, down from 2.8% in September, driven by slower price rises in services, electricity, gas, and retail goods. The economy grew 5.4% year-on-year in Q3, the fastest since Q4 2021, and the growth projection for 2024 was raised to around 3.5%.

November 25, 2024
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