SINGAPORE, Dec. 23 (Xinhua) -- The Ministry of Trade and Industry (MTI) and Monetary Authority of Singapore (MAS) said on Wednesday that both MAS Core Inflation and CPI-All Items inflation came in at -0.1 percent on a year-on-year basis in November, compared to -0.2 percent in October.
Singapore's MAS core inflation excludes the costs of accommodation and private road transport, and CPI-All Items inflation represents the rise in consumer price index for all items.
The rises were mainly due to smaller falls in the costs of services and in the costs of electricity and gas, as well as higher food inflation.
Private transport and accommodation inflation stayed broadly unchanged in November compared to October, the authorities said in a joint statement.
According to the statement, Singapore's private transport costs fell by 1.3 percent year-on-year in November, while the services costs fell by 0.2 percent, the accommodation costs grew by 0.3 percent, the costs of retail and other goods fell by 2 percent, the food costs increased by 1.8 percent, and the costs of electricity and gas fell by 6.8 percent.
MTI and MAS reiterated that both MAS core inflation and CPI-All Items inflation are forecast to come in between -0.5 percent and 0 percent in 2020. In 2021, MAS core inflation is expected to average 0-1 percent, while CPI-All Items inflation is projected to be between -0.5 percent and 0.5 percent.
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