ZCZC
BCN-11
SINGAPORE-CONSUMER-PRICE
Singapore’s CPI growth falls to 0.3 pct in November
SINGAPORE, Dec. 24, 2018 (BSS/Xinhua) – Singapore’s Consumer Price Index
(CPI) grew 0.3 percent year on year in November, following the 0.7 percent
increase in October, said the Ministry of Trade and Industry (MTI) and the
Monetary Authority of Singapore (MAS) in a joint release on Monday.
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.
BSS/XINHUA/HR/1430