Singapore's MAS core inflation, which excludes the cost of accommodation and private transport, stood at 1.2% year on year in December 2025, unchanged from the preceding month, according to a joint release by the Monetary Authority of Singapore and the Ministry of Trade and Industry on Friday.

The primary reason for this was the stable inflation of food and services, the release said.

The headline consumer price index, representing overall inflation, climbed 1.2% year on year in the month, matching November's rate, as core and accommodation inflation stayed the same.

On a month-on-month basis, core inflation inched up by 0.4%, while overall inflation was up 0.3%.

For the entire 2025, core inflation averaged 0.7%, falling from 2.8% in 2024. Whereas, the consumer price index averaged 0.9%, declining from 2.4% in 2024, as per the data.

Core inflation and overall inflation are projected to rise in 2026 compared to 2025, the report said. The inflation outlook is still uncertain, with projections due in MAS' Monetary Policy Statement on Jan. 29.