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PR Newswire
23-12-2014, 03:17 PM
Core inflation, still remains positive...
Singapore’s headline inflation rate negative for first time in five years
SINGAPORE — Singapore’s headline inflation rate last month turned negative for the first time in five years.
Consumer Price Index (CPI) for all-items fell by 0.3 per cent year-on-year in November mainly due to a decrease in private transport costs, said a joint statement by the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS) today (Dec 22). In October, inflation was 0.1 per cent.
Prices in the housing and clothing & footwear categories also fell last month.
“CPI-all Items inflation is expected to remain subdued amid the anticipated increase in the supply of car COEs and newly-completed housing units. For the full year, CPI-all Items inflation is projected to come in at 1–1.5 per cent in 2014 and 0.5–1.5 per cent in 2015,” the statement said.
Core inflation, which excludes the costs of accommodation and private road transport, was 1.5 per cent in November compared with 1.7 per cent the previous month due to a smaller increase in services fees, it added.
For next year, core inflation is likely to average to 2–3 per cent, said MAS. Core inflation is expected to be at 2 to 2.5 per cent this year, according to MAS.
http://www.todayonline.com/singapore/sin...five-years
Singapore’s headline inflation rate negative for first time in five years
SINGAPORE — Singapore’s headline inflation rate last month turned negative for the first time in five years.
Consumer Price Index (CPI) for all-items fell by 0.3 per cent year-on-year in November mainly due to a decrease in private transport costs, said a joint statement by the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS) today (Dec 22). In October, inflation was 0.1 per cent.
Prices in the housing and clothing & footwear categories also fell last month.
“CPI-all Items inflation is expected to remain subdued amid the anticipated increase in the supply of car COEs and newly-completed housing units. For the full year, CPI-all Items inflation is projected to come in at 1–1.5 per cent in 2014 and 0.5–1.5 per cent in 2015,” the statement said.
Core inflation, which excludes the costs of accommodation and private road transport, was 1.5 per cent in November compared with 1.7 per cent the previous month due to a smaller increase in services fees, it added.
For next year, core inflation is likely to average to 2–3 per cent, said MAS. Core inflation is expected to be at 2 to 2.5 per cent this year, according to MAS.
http://www.todayonline.com/singapore/sin...five-years
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