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$63.7 bil Covid-19 package to be main stimulus for Singapore's economy as core inflation remains in the red, say economists

Amala Balakrishner
Amala Balakrishner • 4 min read
$63.7 bil Covid-19 package to be main stimulus for Singapore's economy as core inflation remains in the red, say economists
“Safe-distancing measures and weaker labour market will dampen consumer demand, thereby capping prices increases for discretionary goods and services,” note MAS and MTI.
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SINGAPORE (Apr 23): Singapore’s core inflation continued its decline, falling deeper into the red in March.

The price gauge, which registers inflation levels excluding accommodation and private transport costs, came in at -0.2% for March 2020, according to the consumer price index (CPI) released by the Department of Statistics on Thursday.

This is slightly below the -0.1% recorded in February, and is in line with the expectations of private sector economists’ responses to a Bloomberg poll.

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