Singapore Inflation 0%

Singapore’s headline inflation rate fell to 0% in January this year from 0.4% December, according to the Monetary Authority of Singapore and ministry of trade and industry on Friday, CNA reported. The consumer price index year-on-year drop to 0% in January was largely due to lower accommodation and private road transport inflation, said MAS and MTI. The cost of accommodation fell by 5.3% in January, compared to the 3.8% decline registered in the preceding month, as service and conservancy charges rebates were disbursed to HDB households in January 2018, but not in the same month last year. Private road transport inflation moderated to 1.6% in January from 2.6% in the previous month, due to lower car prices and a decline in certificate of entitlement premiums. However core inflation, which excludes the costs of accommodation and private road transport, nudged up to 1.4% from 1.3% the previous month. This was due to higher retail inflation more than offsetting a decline in food inflation, said MAS and MTI. Food inflation fell to 1.1% in January from 1.4% in December.