Singapore: Annual fall in consumer prices softens in April
May 23, 2016
In April, consumer prices decreased 0.1% compared to the previous month following the flat result tallied in March. According to Statistics Singapore, the reading mainly reflected a fall in prices of clothing and footwear as well as in housing and utilities.
Consumer prices fell 0.5% annually in April, which was a less pronounced drop than March’s 1.0% decline and marked the highest reading in nine months. The reading overshot market expectations of a stronger 0.7% decrease. The annual average variation in consumer prices was minus 0.6%, which was slightly up from March’s minus 0.7%.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, inched up from 0.6% in March to 0.8% in April.