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Singapore's Core Inflation Falls to 0.8% in January

Singapore's Core Inflation Falls to 0.8% in January

新加坡的核心通貨膨脹在一月降至0.8%。
Singapore Business Review ·  02/25 07:23

Headline inflation eased to 1.2% YoY.

headline通脹同比放緩至1.2%。

Singapore's core inflation decreased to 0.8% year-on-year (y-o-y) in January, down from 1.7% in December.

新加坡核心通脹在一月份同比下降至0.8%,低於十二月份的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%.

這主要歸因於核心消費者價格指數(CPI)所有大類的通脹水平下降。按月環比(MoM)計算,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-所有項目的通脹在一月份也同比放緩至1.2%,相比於十二月份的1.5%,反映出住宿通脹降低以及核心通脹的下降。按月環比計算,CPI-所有項目下降了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)和貿易與工業部(MTI)在聯合發佈中表示,進口通脹預計將保持溫和,主要食品商品的供應前景良好以及全球油價下降。

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.

儘管貿易緊張局勢可能會在某些經濟體中增加通脹壓力,但它們對新加坡進口價格的影響可能會被全球需求疲軟所抵消,報告補充道。

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維持新加坡元有效匯率適度和漸進升值的政策也將繼續有助於控制進口通脹。在國內方面,單位勞動成本預計將逐漸上升,因爲名義工資增長放緩而生產率提高。

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,針對公共醫療、學前教育和公共運輸等基本服務的政府補貼增強,預計將幫助控制服務性通脹。

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%.

新加坡金融管理局預測2025年核心通脹平均在1.0%到2.0%之間,而CPI-所有板塊的通脹預計在1.5%到2.5%之間。

However, they said, "The outlook for inflation remains subject to uncertainties in the external environment."

然而,他們表示,「通脹前景仍然受到外部環境不確定性的影響。」

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