Singapore's Core Inflation Falls to 0.8% in January
Singapore's Core Inflation Falls to 0.8% in January
CPI-all Items inflation also eased to 1.2% y-o-y in January, compared to 1.5% in December, reflecting lower accommodation inflation alongside the decline in core inflation. On a MoM basis, CPI-All Items dropped by 0.7%.Headline inflation eased to 1.2% YoY.
headline通胀同比放缓至1.2%。
Singapore's core inflation decreased to 0.8% year-on-year (y-o-y) in January, down from 1.7% in December.
新加坡核心通胀在一月份同比下降至0.8%，低于十二月份的1.7%。
This was largely attributed to lower inflation across all broad categories within the core consumer price index (CPI). On a month-on-month (MoM) basis, the core CPI fell by 0.2%.
这主要归因于核心消费者价格指数(CPI)所有大类的通胀水平下降。按月环比(MoM)计算，核心CPI下降了0.2%。
CPI-all Items inflation also eased to 1.2% y-o-y in January, compared to 1.5% in December, reflecting lower accommodation inflation alongside the decline in core inflation. On a MoM basis, CPI-All Items dropped by 0.7%.
CPI-所有项目的通胀在一月份也同比放缓至1.2%，相比于十二月份的1.5%，反映出住宿通胀降低以及核心通胀的下降。按月环比计算，CPI-所有项目下降了0.7%。
Imported inflation is expected to remain moderate, with favorable supply projections for key food commodities and lower global oil prices, said the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) in a joint release.
新加坡金融管理局(MAS)和贸易与工业部(MTI)在联合发布中表示，进口通胀预计将保持温和，主要食品商品的供应前景良好以及全球油价下降。
Although trade tensions could increase inflationary pressures in some economies, their impact on Singapore's import prices is likely to be offset by weaker global demand, it added.
尽管贸易紧张局势可能会在某些经济体中增加通胀压力，但它们对新加坡进口价格的影响可能会被全球需求疲软所抵消，报告补充道。
The MAS policy of maintaining a modest and gradual appreciation of the trade-weighted Singapore dollar will also continue to help contain imported inflation. On the domestic front, unit labor costs are projected to rise gradually as nominal wage growth slows and productivity increases.
MAS维持新加坡元有效汇率适度和渐进升值的政策也将继续有助于控制进口通胀。在国内方面，单位劳动成本预计将逐渐上升，因为名义工资增长放缓而生产率提高。
Additionally, enhanced government subsidies for essential services, including public healthcare, preschool education, and public transport, are expected to keep services inflation in check.
此外，针对公共医疗、学前教育和公共运输等基本服务的政府补贴增强，预计将帮助控制服务性通胀。
MAS forecasts core Inflation to average 1.0% to 2.0% in 2025, whilst CPI-All Items inflation is expected to range from 1.5% to 2.5%.
新加坡金融管理局预测2025年核心通胀平均在1.0%到2.0%之间，而CPI-所有板块的通胀预计在1.5%到2.5%之间。
However, they said, "The outlook for inflation remains subject to uncertainties in the external environment."
然而，他们表示，“通胀前景仍然受到外部环境不确定性的影响。”
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