Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Singapore’s Inflation Dropped in April, Consumer CPI Rose 0.1 Percent


May, 23 2018
watermark Economic news

Singapore’s Inflation in the previous month was lower than expected because of the slow rate of price increase across different sectors of consumer spending.

The consumer price index which measures mainly the inflation increased by 0.1 percent in April than the similar month last year, according to Department of Statistics released data on Wednesday.

The figure was lesser than the previous increase of 0.2 percent in March and also below economists’ forecast of 0.4 percent.

Weaker inflation reading was due to smaller increases in retail items including electricity & gas and services and a deeper cut in the cost of private road transport as reported by the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) on Wednesday.

The core inflation, excluding the accommodation and private road transport costs to gauge more effectively expenses for everyday, dropped to 1.3 percent in April from 1.5 percent in March. This means lower retail inflation and minute increase in electricity tariffs.

The overall cost of retail items climbed to 0.9 percent in April, lesser than the 1.3 percent rise in March, which was influenced by a steeper decline of prices in personal care products. Prices in recreation and entertainment goods also declined.

Electricity and gas expenses increased at a more moderate pace of 3.7 percent in April compared to the 6.2 percent last month, indicating smaller augmentation in electricity tariffs.

Meanwhile, private road transport expenses declined by 0.8 percent in April, which is bigger than the 0.6 percent drop in March. Reduction in car prices last year after a drop in Certificate of Entitlement (COE) premiums have counterbalanced steeper price increase of petrol.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.