Singapore May CPI falls 1.6 percent

Singapore Consumer Price Index (CPI) falls more than expected. Photograph:( Getty )

Reuters Singapore Jun 23, 2016, 06.22 AM (IST)
Singapore's headline Consumer Price Index (CPI) fell more than expected in May on a year-on-year basis, dragged down by lower accommodation costs, official data showed on Thursday.

The all-items CPI fell 1.6 percent from a year earlier, after falling 0.5 percent in April. The median in a Reuters survey was for a decline of 0.8 percent in May.

Singapore's core inflation gauge rose 1.0 percent in May from a year earlier, after rising 0.8 percent in April, and was below the median forecast for a 1.2 percent increase.