According to analysts, the level of consumer prices in Singapore for December of this year showed a decline. Continuing decline in housing prices, as well as transport costs caused the authorities to state the deflation, which has been continuing for the second consecutive month. This is reported by the experts of Fort Financial Services (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
The decline in the consumer prices for December of the previous year was 0.2%. In November 2014 the fall of the indicator showed 0.3%.
Transport charges have decreased
Consumer price index includes also transportation costs, which account for 16% in the index. Decrease in this index as of December last year reached 4.1%.
Reduction of private car expenses on an annual basis was 5.7% compared with 7% recorded in November last year. The fall of the accommodation cost accounted for 25% of the index was 1.4%. Experts explain it by the rent decline.
Food prices rose
Foods that make up 22% of the index despite the overall negative trend showed an increase of 2.9% compared to previous years' data. The growth rate is due to a go up in prices for ready meals.
These statistics show the rise in consumer price index by 1% according to the annual dynamics. Last year, the index grew by 2.4%.
"Today, February 2, 2015, the rate of the Singapore dollar continues a long-term decline against the US dollar and reached 1.3563," - stated the analysts of Masterforex-V.
