Singapore consumer prices down in record slump | daily-sun.com

Singapore consumer prices down in record slump

    26 April, 2016 12:00 AM printer

SINGAPORE: Singapore’s consumer prices fell for the 17th consecutive month in March, the longest period of decline on record, official data showed on Monday, hit by low fuel costs and as the city-state’s economy stutters.
Prices sank 1.0 percent last month, down 0.2 percentage points from February, the central bank and trade ministry said in a joint statement. The drop comes as the weak oil market makes petrol cheaper, in turn lowering transport costs, reports AFP.
The longest period of falling consumer prices was between September 1975 and December 1976.

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