SINGAPORE (June 24): Maybank Kim Eng is retaining its 2016 headline inflation forecast at –0.4% on the dissipating effect of lower global oil prices and Singapore’s Budget 2015 measures that included rebates, subsidies and reduction of levies.

This comes after the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) announced in a joint release on Thursday that Singapore’s Consumer Price Index-All items (CPI) inflation has contracted for the 19th straight month in May – this time by a year-on-year decline of 1.6%.  

(See: Singapore May headline inflation contracts for 19th straight month)

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