Singapore’s consumer prices declined in October, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Monday.
The consumer price index fell 0.2 percent year-on-year in October, after remaining unchanged in September. Economists had expected the price to remain unchanged.
This latest consumer prices outcome was largely due to a sharper decline in private transport costs.
MAS core CPI, which excludes the costs of accommodation and private road transport, fell 0.2 percent annually in October, following a 0.1 percent decrease in the preceding month. Economists had forecast a 0.1 percent fall.
The latest decline can be attributed to steeper declines in the costs of services, retail and other goods, and lower food inflation.
The statistical office expects external inflation to remain low in the coming quarters, amid weak demand conditions.
Both MAS Core Inflation and CPI-All Items inflation are forecast to average between -5 percent and 0 percent this year, the statistical office and MAS said.
Next year, MAS Core Inflation is expected to average 0-1 percent, while the CPI-All Items inflation is projected to be between -0.5 and 0.5 percent.
For comments and feedback contact: editorial@rttnews.com
[Economic News][1]
What parts of the world are seeing the best (and worst) economic performances lately? Click[here][2] to check out our [Econ Scorecard][2] and find out! See up-to-the-moment rankings for the best and worst performers in [GDP][3], [unemployment rate][4], [inflation][5] and much more.
- www.rttnews.com/Content/EconomicNews.aspx
- www.rttnews.com/economic-scorecard/world-rank/PPI/highest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/GDP/highest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/unemployment-rate/lowest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/CPI/highest-performance.aspx