Chart of the Day: Housing prices dented inflation deeper in April

Prices of housing and utilities dipped 2.3%.

This chart from Maybank Kim Eng shows that the contribution of housing & utilities prices to Singapore’s inflation rate widened to -0.54ppt, translating to a price decline of 2.3%.

This was caused by slower increases in the cost of electricity & gas (+3.7% vs. +6.2% in March) and housing maintenance & repairs. These price declines, along with private road transport costs, pulled down headline inflation.

Meanwhile, the contribution of food prices stayed still at 0.31 ppt. The contribution of healthcare prices and miscellaneous goods dipped to 0.13 ppt and 0.02 ppt respectively. Contributions slightly rose for recreation & culture (0.06ppt) and education (0.20ppt), reflecting higher prices.

Singapore's inflation rate dipped 0.1% in April.