Singapore's core inflation rate in October was reported to have increased by 2.1% compared to the same month last year, which is the lowest level in nearly three years.
The slowdown in price gains in the healthcare and recreation sectors played a significant role in this decline.
The core inflation measure excludes housing and private transportation costs, providing a clearer picture of underlying price trends in the economy.
The government is closely monitoring inflationary pressures, which have been a concern for policymakers given the broader economic challenges.