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Financial News: Singapore CPI Rises Less Than Expected In April

Singapore CPI Rises Less Than Expected In April

05/23/2018 - 02:00:00 (RTTNews)

(RTTNews) - Singapore's consumer prices increased at a slower-than-expected pace in April, data from the Ministry of Trade and Industry and Monetary Authority of Singapore showed Wednesday.

Consumer prices edged up 0.1 percent year-over-year in April, following a 0.2 percent rise in March. Economists had expected a 0.5 percent increase for the month.

The cost of electricity & gas rose at a more moderate pace of 3.7 percent in April, compared to 6.2 percent in the previous month.

Services inflation slowed to 1.3 percent in April from 1.4 percent in the previous month. Meanwhile, food inflation remained stable at 1.4 percent and the cost of private road transport dropped 0.8 percent.

MAS Core Inflation, which excludes the costs of accommodation and private road transport, eased to 1.3 percent in April from 1.5 percent in March.

On a monthly basis, consumer prices decreased 0.5 percent from March, when it edged down by 0.2 percent.

Looking ahead, CPI-All Items inflation is projected to come in at the upper half of the 0-1 percent forecast range for the full year.

MAS Core Inflation is expected to rise gradually over the course of 2018 to average at the upper half of the 1-2 percent forecast range, should economic conditions evolve as expected.

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