Singapore’s CPI falls for 23rd month

Singapore’s Consumer Price Index fell by 0.2 percent in September year-on-year, the 23rd straight month of decline, according to the latest data jointly released by Ministry of Trade and Industry and the Monetary Authority of Singapore on Monday. CPI-All Items inflation dropped 0.2 percent year-on-year in September, compared with a 0.3 percent decrease in August. This mainly reflected a smaller decline in private road transport costs, and to a lesser extent higher food inflation. The MTI and MAS said private road transport costs fell by 0.4 percent, moderating from the 1.0 percent decline in the preceding month, largely on account of a smaller drop in petrol prices.