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Singaporeans still see downtrend in inflation

Property cooling measures, increase in vehicle quota cited

Published Mon, Jul 21, 2014 · 10:00 PM
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[SINGAPORE] Singapore consumers continue to see inflation easing in the next one year, thanks to the recent property cooling measures and increase in vehicle quota, but economists warn that external risks could affect price stability forecasts in the longer term.

Going by the latest Singapore Index of Inflation Expectations (SInDEx) survey conducted in June, consumers polled expect overall inflation to stand at 3.66 per cent, down from 3.72 per cent in December 2013.

While this marks the lowest reading since the survey's inception in September 2011, it is far above the Monetary Authority of Singapore (MAS's) forecast of 1.5-2.5 per cent, and OCBC Bank's 1.7 per cent, for 2014.

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