SINGAPORE, Feb. 24 (Xinhua) -- Singapore's core inflation dropped to 0.8 percent year-on-year in January, down from 1.7 percent in December, according to official data released Monday.
The decline was attributed to lower inflation across all major consumer price index (CPI) categories, the Ministry of Trade and Industry and the Monetary Authority of Singapore said.
This marks the lowest core inflation rate since June 2021, when it stood at 0.6 percent, local media reported.
On a month-on-month basis, core CPI fell by 0.2 percent. Core CPI excludes private transport and accommodation costs to provide a clearer reflection of household expenses.
Meanwhile, overall inflation in Singapore eased to 1.2 percent year-on-year in January, down from 1.5 percent in December. ■
