Singapore: Annual variation in consumer prices hits a multi-year low in March
April 25, 2016
In March, consumer prices did not change compared to the previous month following the 0.1% decrease tallied in February. According to Statistics Singapore, a fall in prices for food and housing and utilities offset price increases in all other categories.
Consumer prices fell 1.0% annually in March, which was a more pronounced drop than February’s 0.6% fall and marked the lowest reading since April 2002. The reading overshot market expectations of a slightly-stronger 1.1% decrease. The annual average variation in consumer prices was minus 0.7%, which was down from February’s minus 0.6% and marked a multi-year low.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, inched up from 0.5% in February to 0.6% in March.