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Singapore inflation falls to 0.4% in February, lowest level in over 4 years

Published on Mar 24, 2014 12:59 PM
 
Consumer prices in Singapore rose just 0.4 per cent in February over a year ago, down from 1.4 per cent in January and the smallest increase since January 2010. -- ST FILE PHOTO: DESMOND WEE 

Consumer prices in Singapore rose just 0.4 per cent in February over a year ago, down from 1.4 per cent in January and the smallest increase since January 2010.

The inflation figure was even lower than economists' expectations of a 1 per cent rise. It was dampened by a fall in the prices of transport, clothing and footwear, and communications, according to data released by the Singapore Department of Statistics on Monday.

Private road transport costs sank 7.1 per cent in February after falling 3.5 per cent in January. This was mainly due to a high base last year, when Certificate of Entitlement premiums surged, as well as a dip in petrol pump prices this year, said the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS).

But these falling prices were partly offset by the rising costs of health care, food, housing and education and stationery.

 
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