Consumer price index increases to 1.7%

Moderation was largely due to a larger decline in accommodation.

Citi Asia Economics reported that Singapore’s April headline moderated to 0.4% as core consumer price index (CPI) accelerated to 1.7%.

According to Citi, the moderation in headline was largely due to a larger decline in accommodation costs, due mainly to S&CC rebates which reduced cost of housing maintenance and repairs.

“Private transport CPI inched up on faster increase in petrol and car prices. The larger than expected rise in MAS core inflation (highest since Oct 2014) was largely due to an 18.7% YoY increase in electricity and gas prices (Mar: +4.2%) due to higher electricity tariffs on higher oil prices. Services inflation also edged up on higher telecommunications services fees, while food inflation was stable, as disinflation in prepared meals offset higher non-cooked inflation,” added Citi.