Huge inflation crisis in Singapore, CPI rate fall 0.2% straight 23rd month in September

Economy - Pavan Pandey - Nov 14,2016

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huge inflation crisis in singapore cpi rate fall 0.2 percent

The consumer price index (CPI) fell 0.2% in September; it was down 0.3% in the month of August, which primarily replicated the minor decline in private road carriage costs and, to a minor extent, upper food inflation, the Ministry of Trade and Industry (MTI) and Monetary Authority of Singapore (MAS) said in a combined announcement. Whole consumer prices plunged for 23rd straight month in September from a year earlier. While the rate of decline was the lowest since 2014 December, it’s an indication that Singapore’s lengthiest negative inflation has flat-bottomed.

MTI and MAS added that core inflation, this ignores the cost of housing and private road transport – will increase to 1-2 % next year. The private road transport prices fell by 0.4%, diminishing from the 1% waning the past month, mainly due to a lesser drop in petrol rates. The housing budgets went down 3.7%, continuing on from August’s 3.6% drop, in nonstop flatness in the housing rent payment market. While the foodstuff inflation rose to 2.2%, from 2.0% in august, due to a vertical growth in the cost of non-cooked food, although value upturns for ready meals persisted constantly.

Facilities inflation was 1.5%, from 1.7 the month in the past. This mirrored a fall in the price in public road carriage cost, in adding to a less significant growth in telecommunication facilities charges. The main inflation which ignores the budgets of housing and private road carriage, demolish marginally to 0.9% from 1% in August.