Singapore's CPI down 0.8% on-year in October
By Jonathan Peeris, Channel NewsAsia | Posted: 23 November 2009 1340 hrs

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SINGAPORE: Singapore's consumer price index (CPI) fell for a seventh straight month in October.

Data from statistics department showed that consumer prices fell 0.8 per cent from a year ago, mainly due to lower costs of housing, recreation and others.

The decline was slightly steeper than analysts' expectations of a 0.5 per cent drop.

Housing costs went down by 4.7 per cent due to lower electricity and gas tariffs, as well as cheaper liquefied petroleum gas.

Meanwhile, recreation costs fell 1.9 per cent on the back of lower holiday travel cost.

Compared to September, the CPI actually rose 0.6 per cent reflecting mainly higher costs of housing, food and recreation.

Housing costs increased by 1.9 per cent as a result of higher electricity tariffs and service & conservancy charges as rebates for these were given in September, but not in October this year.

For the ten months to October, consumer prices rose 0.3 per cent compared to a year earlier.


- CNA/so