Consumer Price Developments in December 2025

Summary

•         MAS Core Inflation came in at 1.2% year-on-year (y-o-y) in December, unchanged from November.

o   This was largely because food and services inflation remained unchanged.

o   On a month-on-month (m-o-m) basis, core prices rose by 0.4% in December.

•         CPI-All Items increased by 1.2% y-o-y in December, unchanged from the pace in November.

o   This was mainly due to core and accommodation inflation remaining unchanged.

o   On a m-o-m basis, CPI-All Items rose by 0.3% in December.

•         For 2025 as a whole, MAS Core Inflation averaged 0.7%, falling from 2.8% in 2024.

•         Meanwhile, CPI-All Items inflation averaged 0.9%, declining from 2.4% in 2024.

Download the full press release here [PDF, 329KB]

MONETARY AUTHORITY OF SINGAPORE
MINISTRY OF TRADE AND INDUSTRY
23 JANUARY 2026