Singapore March CPI Falls 0.3% on Year

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The FINANCIAL — Singapore’s consumer prices fell at a slower-than-expected pace in March, as a fall in private road- transport costs moderated from the previous month, according to Nasdaq.

The consumer-price index fell 0.3% year-on-year in March, compared with the median estimate for a 0.5% decline in a Dow Jones Newswires poll of six economists. The index had fallen 0.3% in February. March was the fifth consecutive month of contraction in the consumer-price index.

 The cost of transportation, which has an index weighting of 15.8%, declined 2.7% in March from a year earlier, as private road-transport costs continued to fall, the data showed. However, the fall in private road-transport costs slowed to 4.0%, compared with a 5.8% decline in February.

Housing and utilities costs, which make up 26.3% of the index, also fell 2.7% amid falling home rentals.

Food prices, which have a 21.7% weighting in the index, however, rose 2.1% on year, the data showed.

 

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