SINGAPORE, Jan. 23 (Xinhua) -- Singapore's core inflation, measured by the consumer price index (CPI), eased to 1.8 percent year-on-year in December, down slightly from 1.9 percent in November, according to official data released on Thursday.

The decline was attributed to a moderation in services inflation, the Ministry of Trade and Industry and the Monetary Authority of Singapore said.

On a month-on-month basis, the core CPI rose by 0.5 percent. The core CPI excludes private transport and accommodation costs to provide a more accurate measure of household expenses.

For the full year of 2024, core inflation averaged 2.7 percent, a decline from 4.2 percent in 2023.

Meanwhile, all-items inflation in Singapore held steady at 1.6 percent year-on-year in December. The authorities noted that "lower core and accommodation inflation was offset by a milder decline in private transport costs." Enditem

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