Singapore’s deflation eased in November, with both core and headline inflation at -0.1 percent year-on-year, compared to -0.2 percent in October, according to the Department of Statistics (Singstat) consumer price index (CPI) figures on December 23.
Singapore's deflation eases in November (Photo: businesstimes.com.sg)
Singapore (VNA) – Singapore’s deflation eased in November, withboth core and headline inflation at -0.1 percent year-on-year, compared to -0.2percent in October, according to the Department of Statistics (Singstat)consumer price index (CPI) figures on December 23.
November’s slower rate of decline was due to smaller falls in the costs ofservices, and electricity and gas, as well as higher food inflation.
Private transport and accommodation inflation -part of the headline measure but excluded from core inflation - stayedunchanged from the month before, at -1.3 percent and 0.3 percent respectively.
Services inflation was -0.2 percent, less steep than October's -0.5 percentfigure, due mainly due to a smaller decline in outpatient services fees and anincrease in the costs of recreational and cultural services.
The cost of electricity and gas fell 6.8 percent, slowing from October's 7.2percent fall, as targeted utilities rebates ceased in October 2020.
Meanwhile, the cost of retail and other goods fell more sharply, with inflationat -2.0 percent in November, steepening from -1.6 percent in October.
In Singstat's release, food, household durables and services, and communicationwere the only three categories with positive inflation year on year inNovember.
Ina joint statement, the Monetary Authority of Singapore (MAS) and the Ministryof Trade and Industry (MTI) maintained an unchanged inflation outlook from theprevious two months, with core and headline inflation ranging from -0.5 percentto zero percent in 2020. Core inflation for 2021 is expected at 0-1 percent,while headline inflation if forecast at -0.5 percent-0.5 percent./.
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Singapore's deflation eases in November (Photo: businesstimes.com.sg) 
