Lower oil prices have prompted officials to lower their headline - or overall - inflation forecast for the year. It is now estimated that overall inflation will come in between 0.5 per cent and 1.5 per cent, down from an earlier expectation of 1 per cent to 2 per...
This reflected a slower pace of increase in the cost of electricity and gas, which outweighed higher inflation in services. Likewise, core inflation dipped from 1.9 per cent to 1.7 per cent. The figures were lower than expected, with a Bloomberg poll of analysts predicting that headline inflation would hit 0.6 per cent with core inflation tipped at 1.8 per cent.
"Part of the reason for the collapse in trade and exports is that businesses are in a deep freeze on their investment plans," said Dr Chua, referring to ongoing trade tensions. "We're all hoping that the US and China will come to some kind of trade deal in the coming weeks, if not months... If there is a deal, I hope some of these companies' business sentiment will reignite, which will lead to some recovery in business investments. Correlated with that is trade.
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