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Singapore Feb consumer prices set to fall for fourth month: Poll

Thursday, March 19, 2015 - 16:31

[SINGAPORE] Singapore's consumer prices probably fell in February from a year earlier for the fourth consecutive month, even though the decline was less than in the previous month due to holiday effects, a Reuters poll showed.

The all-items consumer price index likely declined 0.2 per cent in February from a year ago, according to the median forecast in a Reuters poll of 10 economists.

Headline CPI fell 0.4 per cent in January from a year earlier, the largest drop since December 2009.

Food prices rose last month ahead of the Lunar New Year holidays in mid-February, but inflation is likely to stay tepid in coming months, economists said. In 2014, the holidays began in late January.

The survey also showed that core consumer inflation in February likely edged up to 1.1 per cent from January's 1.0 per cent, which was the lowest since March 2010.

The February consumer price data is due on Monday at 0500 GMT.

Singapore's central bank is expected to ease monetary policy further in the upcoming April meeting to support slowing growth and tackle deflationary pressure.

REUTERS

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