Singapore’s inflation has dropped below five percent for the first time in 2011, with April’s consumer price index (CPI) standing at 4.5 percent year-on-year, mainly attributed to higher food, transport and housing costs, according to the Department of Statistics.
Transport costs increased 1.8 percent month-on-month, due to higher petrol and car prices. When compared to April 2010, however, the cost of transport rose by 11.7 percent.
Similarly, food prices climbed 0.4 percent, owing to more expensive prepared meals, fruits and seafood. Compared to the same period last year, April’s CPI grew by 2.9 percent.
The department said the index for “recreation and others” climbed by 1.0 percent, mainly attributed to higher salaries for foreign maids and holiday travel costs.
Housing prices increased 5.1 percent compared with April 2010 but declined 0.8 percent month-on-month.
Inflation has also moderated, compared to March — April’s CPI grew by 0.3 percent.
The Monetary Authority of Singapore’s (MAS) central inflation measure, which excludes accommodation and private road transport, measured 0.6 percent month-on-month in April 2011 and 2.2 percent year-on-year.
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