Inflation extends 16-month losing streak with 0.8% drop in February

On back of low transport, accommodation costs.

Singapore’s consumer price index (CPI) booked its 16th straight month of contraction with a 0.8% drop in February, which is steeper than the 0.6% decline in January, according to data released by the Monetary Authority of Singapore (MAS).

The decline was on back of weaker private transport and accommodation costs. Private road transport costs dropped by 3.9%, compared to the 1.8% drop in January, on back of a steeper decline in car prices.

Accommodation costs fell by 3.2% following the 3.1% decline in the previous month. This was on back of lower rents.

Meanwhile, MAS Core Inflation, which excludes the costs of accommodation and private road transport, rose to 0.5% in February from 0.4% a month ago. This was mostly on account of the higher food inflation.