Singapore's Japan-Beating Consumer Price Slump May Endure: ChartBy
The nation with Asia’s longest bout of deflation in recent years won’t be getting out of it anytime soon, if local gasoline pump prices catch up with the global crude slump. Singapore’s petrol prices have fallen only 9 percent compared with the 70 percent plunge in dollar terms for global oil since 2013, providing plenty of scope for local fuel costs to fall and align with crude declines, according to Bank of Singapore. The island’s main inflation measure has been negative for 15 straight months, longer than other Asian economies in the past five years including deflation-prone Japan.
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