Singapore’s consumer price index (CPI) increased 3.5% y/y in March this year, slower than expected, due to the decline in the costs of transportation and housing. As reported by Dow Jones Global Equities News, the cost of transportation, which has a weightage of 16% in the CPI, increased 6.9% y/y during the period, while the housing costs, which is responsible for 25% of the CPI, accelerated 4.1% y/y.
The prices of food, which has a weightage of 22% in the CPI, increased 1.8% y/y during the period. The private road transport costs accelerated 8.6% y/y during the period, due to the decline in car prices, from easing prices of certificates of entitlement and higher government restrictions on auto loans.
The acquisition of India's Essar Oil led by Russian oil major Rosneft can be “considered done”, the state-controlled company’s CEO Igor Sechin said at the annual shareholder meeting on June 22, ... more
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