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Singapore’s core prices fall for first time in a decade

SINGAPORE

Singapore’s main price gauge fell into negative territory for the first time in over a decade in February, data showed on Monday, with prices falling 0.1% from a year earlier.

Economists polled by Reuters had been expecting a 0.1% rise in core inflation – the central bank’s favored price measure – but instead declines in airfares and holiday expenses due to the coronavirus pandemic led to deflation for the first time since January 2010.

Singapore’s headline consumer price index rose 0.3% from a year earlier, slightly below poll expectations of 0.35%.

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