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Singapore’s CPI falls 0.4 percent in January

Singapore’s consumer price index (CPI) in January fell 0.4 percent compared to the same period last year due to sharp decline in petroleum price and cheaper food and services, the Department of Statistic said on February 23.
Singapore’s consumer price index (CPI) in January fell 0.4 percentcompared to the same period last year due to sharp decline in petroleumprice and cheaper food and services, the Department of Statistic said onFebruary 23.

Particularly, the price of oil-related itemscontracted 13.6 percent in January, after falling 7.4 percent in theprevious month. Inflation for food was kept at 2.2 percent, down fromthe 2.7 percent in December 2014.

Overall service prices droppedby 1.2 percent compared to the 1.7 percent decrease in December 2014while road transport cost fell 5 percent.

The Monetary Authorityof Singapore (MAS) forecasted the island country’s inflation is expectedto reduce further and only rise in the second half of 2015.

Generally,Singapore’s inflation is predicted to fluctuate between minus 0.5 to0.5 percent this year while the core inflation, which excludes landtransport and house rent, is expected to come in at 0.5 to 1.5percent.-VNA
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