Singapore (VNA) – Singapore ’s inflation rate in January dropped 0.6 percent compared with the same period last year, according to a joint report released by the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS) on February 23.
This is the 15th straight month that consumer prices have fallen in the city state.
According to data, private road transport costs fell by 1.8 percent in the reviewed period, compared to a 1.1 percent fall in December 2015 due to the sharp fall in car prices.
Meanwhile, accommodation costs dropped by 3.1 percent attributable to the reduction in housing rental market.
Overall services inflation moderated to 0.5 percent, down from 0.9 percent in December 2015, largely due to a slower pace of increase in education services fees and holiday travel costs.
Healthcare services costs grew as the disinflationary effects of medication subsidies introduced in January 2015 dissipated, while food prices rose by 1.7 percent last month compared to December 2015’s 1.5 percent.
For the year 2015, CPI inflation fell by 0.5 percent, the first yearly decline since 2002.
Economists said prices might increase in the second half of the year, but 2016 is likely to be a year of benign inflation amid a sluggish growth environment.-VNA
President of Singapore Tony Tan Keng Yam outlined five key goals for the country’s government to fulfill in 2016 in his opening address to the 13th Parliament on January 15.
Singapore’s non-oil domestic exports (NODX) slid 7.2 percent in December last year, from a year earlier, as shipment of non-electronics products dropped 10.3 percent.
Singapore’s employment rate in 2015 was 0.9 percent or 31,800 more people were employed last year, the lowest annual growth since 2003, said the Manpower Ministry (MOM) on January 28.
Singaporean Prime Minister Lee Hsien Loong praised the importance of the recent US- ASEAN Summit, which was held in Sunnylands, California from February 15-17.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Singapore seen from Marina Bay (Source: CNN)
