World Economy

Singapore CPI Falls

Singapore CPI FallsSingapore CPI Falls

The all-items Singapore consumer price index (CPI) eased to -0.5% in April from -0.3% in March, mainly on account of a sharper price decline in oil-related items and a moderation in services inflation, The Star Online reported. A joint statement released by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) said, the cost of oil-related items fell by 11.7% in April, following the 7.9% decrease in the preceding month, as electricity tariffs were reduced further owing to lower global oil prices. It said services inflation eased to 1.1% from 1.5% a month earlier, largely led by a fall in holiday travel cost and waiver of national examination fees. Food inflation was stable at 2.1%.