Singapore's CPI falls at slower-than-expected pace in April
Singapore - QNA
Singapore's consumer prices fell at a slower-than-expected pace in April, mainly due to a low base of comparison from the previous year when the government passed on rebates on utilities bills.
The consumer-price index fell 0.5% in April from a year ago, compared with the median estimate for a 0.8% decline predicted in a poll of five analysts by The Wall Street Journal. Prices declined 1.0% in March.
Housing and utilities costs, which make up 26.3% of the index, fell 1.9% from the previous year on cheaper rents.
Food prices, which have a 21.7% weighting in the index, rose 2.3% from a year earlier due to higher prices of non- cooked items such as seafood and fruits, the data showed. Food prices rose 2.2% in March.
The Monetary Authority of Singapore's core-inflation measure, which excludes the costs of accommodation and private- road transport, edged up to 0.8% in April from 0.6% a month ago, mainly due to higher services inflation and a smaller decline in electricity tariffs.