Singapore: Decrease in annual consumer prices deepens in October
November 25, 2015
In October, consumer prices fell 0.4% over the previous month, which followed the flat growth tallied in September and marked a six-month low. According to Statistics Singapore, October’s reading mainly reflected a fall in prices of housing and utilities as well as transport.
Consumer prices fell 0.8% annually in October, which followed September’s 0.6% drop. The reading undershot market expectations of a softer 0.5% decrease. Despite October’s drop, annual average variation in consumer prices remained stable at September’s 0.4% fall, which marked the lowest value since November 2002.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, fell from 0.6% in September to 0.3% in October.
Author: Eric Denis , Economist