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Singapore sees deflation for second straight month in December

Xinhua, January 23, 2015 Adjust font size:

Singapore's consumer price index (CPI) in December contracted by 0.2 percent year on year, representing a second straight month of CPI deflation, the Department of Statistics said on Friday.

The deflation in December was mainly due to fluctuations in the premiums for car ownership certificates, the Monetary Authority of Singapore and the Ministry of Trade and Industry said.

The deflation came after a contraction of 0.3 percent in the CPI in November.

For the whole of 2014, the headline inflation came at 1 percent, compared with 2.4 percent in 2013. The CPI inflation averaged 1.7 percent in the first half and 0.4 percent in the second half, respectively.

The core inflation, which excludes changes in the price of private road transport and accommodation, fell to 1.5 percent year on year in December. For the whole of 2014, core inflation averaged 1.9 percent in 2014, compared with 1.7 percent in 2013. Endi