SINGAPORE, Dec 26 — Singapore’s key consumer price gauge slowed to 3.2 per cent in November on the year, in line with expectations, official data showed on Tuesday, and headline inflation fell to 3.6 per cent.

In a joint statement, the Monetary Authority of Singapore and the trade ministry said headline and core inflation were projected to average 3.0–4.0 per cent and 2.5–3.5 per cent respectively in 2024.

The core inflation rate — which excludes private road transport and accommodation costs — slowed from 3.3 per cent in October, while headline inflation dropped from 4.7 per cent in October, and was lower in November than economists’ forecast of 3.8 per cent.

The central bank is set to review monetary policy settings next month after it changed the frequency of policy reviews from a semi-annual to a quarterly schedule.

Manufacturing data, also released on Tuesday, showed that manufacturing output increased 1.0 per cent in November on a year-on-year basis. — Reuters