Singapore: Consumer prices continue falling in February
March 23, 2015
In February, consumer prices increased 0.1% over the previous month, which contrasted the 0.2% fall tallied in January. According to Statistics Singapore, February’s slight increase was driven by higher prices for household durable goods, food, recreation and culture. Conversely, education, as well as transport recorded lower prices than in the previous month.
Consumer prices fell 0.3% annually in February, which followed the 0.4% drop recorded in January and came in just below the 0.2% decline that the markets had expected. As a result of February’s decrease, annual average inflation inched down from January’s 0.9% to 0.8%, which marked the lowest level since June 2010.
The Monetary Authority of Singapore’s (MAS) annual core inflation measure, which excludes the cost of accommodation and private road transport, increased from 1.0% in January to 1.3% in February.
Author: Cecilia Simkievich, Economist