Chart of the Day: Headline consumer prices fell 0.74% YoY in April

This is the second straight month of deflation for the city-state.

This chart from UOB shows that Singapore’s inflation environment has eased further in April with headline consumer prices falling 0.74% YoY, marking its second straight month of deflation.

Meanwhile, core prices also fell by 0.3% YoY over the same period compared to the 0.2% YoY decline in March. This compares to market expectations for headline and core CPI to slip 0.5% YoY. Singapore’s headline inflation grew at an average of 0.1% in the first four months of 2020, down from 0.6% in the same period last year.

UOB expects a path of deflation for Singapore’s consumer prices in the year ahead with their official outlook for both headline and core inflation remaining unchanged at a range of between 1% fall and 0% for 2020.