Singapore's inflation held steady at 1.2% in November 2025, below forecasts, due to lower goods and energy prices.

Singapore's core and headline inflation both held steady at 1.2% year-on-year in November 2025, below the 1.3% forecast, with stable services inflation offset by lower goods and energy prices. Core inflation, excluding accommodation and private transport, remained unchanged from October, while monthly core prices dipped 0.1%. Authorities maintained 2025 and 2026 inflation forecasts, citing subdued imported costs and temporary factors, but warned of potential supply shocks or weaker global demand.