新加坡元/瑞郎 (SGDCHF) 加自选

瑞士投资者情绪指数较上月下降7.6点，至2024年12月的-20，标志着该指数连续第五个月处于负值区间，也是该序列中跌幅最大的一个月。瑞银与瑞士特许金融分析师协会合作发布了该指标。瑞银表示，在瑞士国家银行（SNB）12月降息幅度大于预期后，调查参与者降低了对短期和长期利率的预期。瑞银补充道：“自9月以来，对长期前景的评估没有发生重大变化，瑞士经济增长最有可能达到1-2%，通货膨胀率在瑞士央行0-2%的目标范围内。”。与此同时，2024年12月，当前状况指标下降了6.8点，至13.1点。

The Swiss investors’ sentiment index dropped by 7.6 points from the previous month to -20 in December 2024, marking its fifth consecutive month in negative territory and the steepest decline in the sequence. According to UBS, which collaborates with the CFA Society Switzerland to release the indicator, survey participants have lowered their expectations for both short and long-term interest rates, following the larger-than-expected rate cut by the Swiss National Bank (SNB) in December. “The assessment of the long-term outlook has not changed significantly since September, with Swiss growth most likely 1-2% and inflation within the SNB’s target range of 0-2%,” UBS added. Meanwhile, the current conditions gauge fell by 6.8 points to 13.1 in December 2024.

2024年11月，新加坡食品价格同比上涨2.4%，较上月2.6%的涨幅有所放缓，这是自2022年2月以来的最低涨幅。在食品中，不包括食品服务服务，面包和谷物（10月份为3.2%对3.0%）、牛奶、奶酪和鸡蛋（0.3%对0.3%）、水果（1.8%对3.8%）、非酒精饮料（2.4%对1.5%）、油脂（3.3%对2.3%）、蔬菜（3.1%对4.5%）、糖、蜜饯和糖果（2.7%对0.3%）以及其他食品（2.2%对2.4%）的成本继续上升。相比之下，肉类价格下跌（-0.9%对0.1%），鱼类和海鲜价格下跌（-4.9%对-4.4%）。在餐饮服务中，餐厅食品（3.5%对3.7%）、快餐（3.4%对4.4%）、小贩食品（2.8%对2.9%）和餐饮食品（2.6%对2.6%）的价格进一步上涨。

Food prices in Singapore increased by 2.4% year-on-year in November 2024, slowing from a 2.6% rise in the previous month and pointing to the softest gain since February 2022. Within food, excluding food servicing services, cost continued to rise for bread & cereals (3.2% vs 3.0% in October), milk, cheese & eggs (0.3% vs 0.3%), fruits (1.8% vs 3.8%), non-alcoholic beverages (2.4% vs 1.5%), oils & fats (3.3% vs 2.3%), vegetables (3.1% vs 4.5%), sugar, preserves & confectionery (2.7% vs 0.3%), and other food (2.2% vs 2.4%). In contrast, prices fell meat (-0.9% vs 0.1%) and fish & seafood (-4.9% vs -4.4%). Among food servicing services, prices grew further for restaurant foods (3.5% vs 3.7%), fast foods (3.4% vs 4.4%), hawker food (2.8% vs 2.9%), and catered food (2.6% vs 2.6%).

2024年11月，新加坡核心消费者价格同比上涨1.9%，较上月的2.1%有所回落，低于市场预测的2.1%。这标志着自2021年11月以来的最低核心通胀率，原因是食品和服务通胀有所缓和。服务通胀（2.2%对3.3%）放缓，原因是假期费用增幅较小，电信服务费降幅较大。与此同时，随着非熟食和食品服务价格的疲软，食品通胀（2.4%对2.6%）有所缓解。预计到2024年底，MAS核心通胀率将保持在2%以下。预计2024年整体核心通胀率平均为2.5-3.0%，2025年将进一步降至1.5-2.5%。按月计算，核心通胀率在10月份下降0.3%后保持不变。1月至11月期间，核心通胀率平均为2.8%。

Core consumer prices in Singapore increased 1.9% year-on-year in November 2024, easing from 2.1% in the previous month, below market forecasts of 2.1%. This marked the lowest core inflation rate since November 2021, due to a moderation in food and services inflation. Services inflation (2.2% vs 3.3%) slowed due to a smaller increase in holiday expenses and a steeper decline in telecommunication services fees. Meanwhile, food inflation (2.4% vs 2.6%) eased as the prices of non-cooked food and food services rose softer. MAS Core Inflation is expected to remain below 2% through to end-2024. Core inflation is projected to average 2.5–3.0% in 2024 as a whole, before stepping down further to 1.5–2.5% in 2025. On a monthly basis, core inflation was unchanged, after declining 0.3% in October. For the period from January to November, core inflation averaged 2.8%.

新加坡的年通货膨胀率在2024年11月从10月的3年半低点1.4%上升到1.6%，尽管仍低于市场预期的1.8%。医疗保健价格加速上涨（10月份为2.6%对2.1%），主要受门诊服务的推动。与此同时，运输成本在10月份下降0.9%后上涨了0.5%，私人运输的下降速度急剧放缓。相比之下，由于住宿，住房和公用事业价格进一步上涨（2.6%对2.7%）；娱乐和文化（1.4%对1.5%），以度假支出为主；教育（3.0%对3.1%），由学费和杂费驱动；以及杂项（0.4%对0.9%），主要是由于个人护理。与此同时，成本沟通的下降加深（-1.3%对-0.5%）。与此同时，年度核心通胀率为1.9%，为三年来的最低水平，低于10月份预期的2.1%。按月计算，消费者价格在10月份下跌0.3%后保持不变。

Singapore’s annual inflation rate rose to 1.6% in November 2024 from October's 3-1/2 year-low of 1.4%, though it remained below market expectations of 1.8%. Prices of health care accelerated (2.6% vs 2.1% in October), mainly driven by outpatient services. At the same time, transport cost rose by 0.5% after falling 0.9% in October, with a decrease in private transport slowing sharply. By contrast, prices rose further for housing and utilities (2.6% vs 2.7%), owing to accommodation; recreation and culture (1.4% vs 1.5%), led by holiday expenses; education (3.0% vs 3.1%), driven by tuition & fees; and miscellaneous items (0.4% vs 0.9%), mostly due to personal care. Meantime, a decline in cost communication deepened (-1.3% vs -0.5%). Meanwhile, the annual core inflation rate stood at 1.9%, marking the lowest level in three years and falling short of the anticipated 2.1%, which was the rate for October. On a monthly basis, consumer prices were unchanged after a 0.3% drop in October.