The Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) have reported that the country’s inflation in 2014 came in at 1 percent, down from 2.4 percent in 2013.

In a joint news release on January 23, they said Singapore experienced deflation for second straight month in December, 2014, with the CPI coming in at -0.2 percent in the month, edging up slightly from -0.3 percent in November.

Core inflation – which excludes changes in the price of private road transport and accommodation – fell to 1.5 percent year-on-year in December, similar to the previous month.

For the whole of 2014, core inflation edged up to 1.9 percent from 1.7 percent in 2013.
In 2015, core inflation is expected to average 2 to 3 percent, while CPI-All Items inflation is expected to come in at 0.5 to 1.5 percent./.