Singapore’s CPI declines 0.8 percent in October
Singapore’s Consumer Price Index (CPI) fell 0.8 percent year on year in October compared to 0.6 percent in September.
A corner of Singapore. (Source: seedsnet.org)Singapore (VNA) - Singapore’s Consumer Price Index (CPI) fell 0.8 percent year on year in October compared to 0.6 percent in September, according to the Monetary Authority of Singapore and Ministry of Trade and Industry’s joint press release.
The core inflation, which excludes the costs of accommodation and private road transport, fell to 0.3 percent in October from 0.6 percent last month.
Private road transport cost was 2.3 percent lower, compared to a 3.2 percent drop in the previous month.
Accommodation cost slid 3 percent, extending a 2.9 percent decline in September while food and services inflations remain unchanged at 1.8 percent and 0.8 percent, respectively.
According to the MAS, economies of Southeast Asia, including Singapore, would face more difficulties next year although global oil prices are expected to remain low due to abundant supply and the recovery of US economy.-VNA
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