Singapore CPI falls 0.5% in April

SINGAPORE: The Singapore consumer price index (CPI)-All Items inflation eased to -0.5% in April from -0.3% in March, mainly on account of a sharper price decline in oil-related items and a moderation in services inflation.

A joint statement released by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) said, the cost of oil-related items fell by 11.7% in April, following the 7.9% decrease in the preceding month, as electricity tariffs were reduced further owing to lower global oil prices.