Overview
- Core inflation rose to 1.2% year on year from 0.4% in September, the highest reading this year and above the 0.7% forecast in a Reuters poll.
- Headline CPI reached 1.2% year on year from 0.7%, beating the 0.9% consensus, with overall prices flat on the month and core up 0.5% from September.
- Services inflation jumped to 1.8% on higher health insurance, healthcare services and holiday expenses, while food inflation edged up to 1.2% and retail goods to 0.4%.
- Private transport inflation ticked up to 3.8% on steeper increases in car prices as electricity and gas inflation fell less steeply due to a smaller drop in electricity prices.
- MAS and MTI maintained projections for core inflation at about 0.5% in 2025 and 0.5–1.5% in 2026, with CPI-All Items at 0.5–1% in 2025 and 0.5–1.5% in 2026, noting risks from supply shocks and oil prices.