Singapore Inflation Continues To Ease In March

Consumer prices in Singapore continued to rise at a slower pace in March, reflecting a fall in transport and communication costs amid the weakening economy.

Thursday, Singapore's Department of Statistics said the consumer price index rose 1.6% year-on-year in March, slower than the 1.9% acceleration in the preceding month. The increase matched economists' expectations. This is the sixth consecutive month that inflation has eased.

In March, transport and communication prices, having a weight of 22% in the index, fell 5.4%, while costs of education and stationery declined 0.4%.

On the other hand, cost of housing, having a weight of 21% in the index, rose 5.5%. Price of food, with the highest weight of 23%, increased 4.6%. Price of clothing, footwear, healthcare and recreation and other activities also showed a rise in March.

Excluding the accommodation costs, consumer prices were up 0.4% in March.