Singapore's deflation extends to eighth month in core gauge

Credit: REUTERS/SOE ZEYA TUN

Singapore's main price gauge contracted for the eighth consecutive month in September, data showed on Friday, with prices falling 0.1% from a year earlier.

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SINGAPORE, Oct 23 (Reuters) - Singapore's main price gauge contracted for the eighth consecutive month in September, data showed on Friday, with prices falling 0.1% from a year earlier.

Core inflation — the central bank's favoured price measure — was expected to fall 0.2%, according to a Reuters poll.

Singapore's headline consumer price index was flat from a year earlier, data from the Department of Statistics showed. Economists had forecast a 0.25% drop.

Authorities in the city-state, battling its deepest ever recession due to the COVID-19 pandemic, expect core and headline inflation to come in between −0.5 and 0% in 2020.

(Reporting by Chen Lin; editing by Uttaresh.V)

((LinChen1@thomsonreuters.com;))

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