Singapore: Annual fall in consumer prices softens marginally in September
October 24, 2016
In September, consumer prices stayed flat compared to the previous month, following the 0.5% increase recorded in August. According to Statistics Singapore, the reading mainly reflected higher prices for clothing and footwear offsetting lower prices for housing and utilities as well as for communication.
Consumer prices fell 0.2% annually in September, which was a smaller drop than August’s 0.2% decrease and the smallest decline in 21 months. The result came in slightly above market expectations of a more pronounced 0.4% decrease. The annual average variation in consumer prices was minus 0.7%, marginally up from August’s 0.8% fall.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, recorded a 0.9% increase in September, which represented a smaller increase than August’s 1.0% reading.