Singapore: Inflation eases in February as coronavirus causes airfares to fall
Consumer prices rose 0.1% month-on-month in February, swinging from the 0.2% drop in January, on the back of pricier food; housing and utilities; household durables and services; and clothing and footwear. This more than offset cheaper transport.
Inflation, meanwhile, eased to 0.3% in February from January’s 0.8%, with annual average inflation stable at January’s 0.6%. Lastly, the Monetary Authority of Singapore’s measure of core price pressures, which excludes accommodation and private road transport costs, fell 0.1% year-on-year in February, contrasting January’s 0.3% increase. Lower inflation in February was driven partly by Covid-19 causing air fares to tumble.