The MAS Core Inflation, which excludes the costs of accommodation and private road transport, declined from 1.9 percent on a year-on-year basis in October to 1.7 percent in November.
The authorities said the CPI decline was largely due to a sharper fall in private road transport costs, and to a lesser extent, smaller increases in the prices of services, retail items and electricity and gas, which more than offset a slower pace of decline in accommodation costs.
As for the MAS Core Inflation, they attributed the decline to a smaller increases in the costs of services, retail items and electricity and gas.
The MTI and MAS reiterated their forecasts, saying the city-state will see the MAS Core Inflation rise modestly in the months ahead, and come in within the forecast range of 1.5-2 percent in 2018 and 1.5-2.5 percent in 2019.
The CPI is projected to grow by about 0.5 percent in 2018, before rising to 1-2 percent in 2019, they added.