SINGAPORE - Core and overall inflation both declined in October, continuing Singapore's deflationary trend of previous months.
Private transport costs fell more steeply in October, dropping 1.3 per cent compared with 0.1 per cent the previous month, as car prices rose at a more gradual pace amid a sharper decline in fuel costs. Electricity and gas costs fell 7.2 per cent in October, compared with a 14.2 per cent decline the previous month, due to upward revisions in electricity and gas tariffs.
However, core inflation is forecast to turn"mildly positive" in 2021, with demand for some domestic services gradually picking up and the disinflationary effects of government subsidies introduced in 2020 fading.
Singapore Latest News, Singapore Headlines
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