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Singapore Consumer Prices Decline for Longest Streak Since 1987

  • Oil prices to remain low for whole of 2016, says central bank
  • Consumer prices fell 0.8% in November from year earlier
An assortment of fish sits on display at a seafood stall inside the Chinatown Wet Market in Singapore, on Wednesday, Nov. 4, 2015. The Monetary Authority of Singapore eased monetary policy for the second time this year last month, as trade ministry data showed the economy narrowly avoided a technical recession, saying weakening prospects for global growth will pose “headwinds” in the coming months.
Photographer: Nicky Loh/Bloomberg

Singapore’s consumer prices fell for a 13th straight month in the longest streak of declines in almost three decades amid a renewed slump in oil prices.

Consumer prices fell 0.8 percent from a year earlier in November, data released in Singapore Wednesday showed. The median estimate in a Bloomberg News survey was for a 0.7 percent decline. Core inflation, which excludes private transport and accommodation costs, eased to 0.2 percent last month.