ZCZC
BCN-12
SINGAPORE-CONSUMER-PRICE-INDEX
Singapore’s CPI-All Items inflation grows to 0.6 pct in November
SINGAPORE, Dec. 23, 2019 (BSS/Xinhua) – Singapore’s Consumer Price Index
for all items (CPI-All Items) grew 0.6 percent year-on-year in November,
compared to a 0.4-percent growth in October, according to a joint statement
issued by two government authorities on Monday.
The Ministry of Trade and Industry (MTI) and Monetary Authority of
Singapore (MAS) said in the joint statement that the CPI-All Items inflation
increased in the month because of an increase in private road transport
inflation and smaller declines in the costs of retail goods and
accommodation, even as services inflation eased.
In November, the MAS core inflation, which excludes the costs of
accommodation and private road transport, was unchanged at 0.6 percent from
October as lower services inflation was offset by a smaller decline in the
cost of retail goods. According to the joint statement, Singapore’s services
inflation edged down to 1.1 percent in November, from 1.2 percent in October.
Meanwhile, the cost of retail goods fell 0.5 percent year-on-year in
November, less than a 0.8-percent drop in October; and the accommodation
costs decreased 0.2 percent year-on-year in November, less than a 0.4-percent
drop in the previous month. Besides, the private road transport inflation
grew from 1 percent in October to 2.3 percent in November.
The authorities reiterated in the statement that Singapore’s CPI-All Items
inflation is projected to be around 0.5 percent this year and average 0.5-1.5
percent in 2020. They forecast that the MAS core inflation will come in at
the lower end of the 1-2 percent range in 2019, and average 0.5-1.5 percent
in 2020.
BSS/AFP/HR/1435