Singapore's March CPI up 5% on-year, 0.1% on-month

SINGAPORE: Singapore's consumer price index rose five per cent on year in March, after a similar five per cent rise in February.


The inflation rate was in line with economist forecasts.

Compared with the month before, consumer prices was almost flat, rising just 0.1 per cent, according to the Department of Statistics (DOS).

DOS said the higher costs of housing, clothing and footwear, as well as "recreation and others" was partially offset by the lower cost of transport.

On a month-on-month basis, housing costs rose 0.6 per cent, due to higher accommodation costs.

Prices of clothing and footwear were up 2.5 per cent as a result of more expensive ready-made garments and footwear.

Recreation and others rose 0.3 per cent on higher prices of travel and cigarettes.

Meanwhile, the cost of transport fell 0.6 per cent owing to lower car prices.

Compared with the same period a year ago, transport costs rose 13.4 per cent, on higher prices for cars and petrol.

Higher electricity tariffs and higher accommodation costs pushed housing costs up by 7.1 per cent.

Food prices increased 2.6 per cent due to more expensive prepared meals, vegetables, seafood, meat & poultry, milk, eggs and fruit.

For the first quarter this year, the consumer price index increased by 5.2 per cent compared to the same period a year ago.

- CNA/fa