Inflation slips 0.3% in April

The pandemic and measures implemented impacted the collection of prices.

Singapore’s core inflation inched down 0.3% YoY in April compared to 2019, a report by the Department of Statistics (SingStat) revealed. In addition, the consumer price index (CPI) slid 0.7% YoY over the same period.

The COVID-19 pandemic and the slew of measures implemented have led to the reduction and suspension of selected goods and services, and impacted the collection of prices and the compilation of the CPI.

According to SingStat, CPI of foods grew 2.1% YoY, with meat leading the price hikes at 7.3% followed by milk, cheese and eggs with 5%, as well as oils and fats, and vegetables fruits both at 4.9%.

CPI of food services also rose 1.5% led by catered food with 2.2%. Other segments like restaurant food (1.7%), fast food (1.6%), and hawker food (1.3%) also saw a rise in their CPIs.

Prices in housing and utilities remained stable as its CPI inched up 0.1% YoY, as accomodation’s CPI rose 0.5%, whilst fuel and utility prices fell 3.4%. CPI of household durables and services dipped 0.2% whilst clothing and footwear slipped 3.2 YoY.

For healthcare, CPI slipped 1.8% YoY. CPI for outpatient services declined 4.4% YoY whilst CPI for medicines and health products fell 1% YoY. Meanwhile, CPI for hospital services increased 1.8% YoY whilst health insurance remained unchanged.

In transport, CPI recorded a 4% decline as private road transport and other travel and transport CPIs fell 5.5% YoY and 5% YoY, respectively. Meanwhile, public road transport’s CPI grew 2.7% YoY.

Meanwhile, CPI for communication and recreation and culture inched down 0.6% and 2.8% YoY, respectively. For education, CPI slid 0.6% whilst CPI for miscellaneous goods and services edged down 0.9%.