Singaporean consumer price deflation accelerated unexpectedly in April.
Prices slid 0.5% from a year ago, below the 0.4% decline of March and well short of expectations for an increase to -0.1%.
This is the sixth month in a row that a figure below 0% has been reported and it’s also the lowest since November 2009.
Steep declines in crude-related items, down 11.7% from 7.9% in March, were largely behind the unexpected headline miss.
Excluding volatile items such as energy, core inflation rose 0.4%. This was below the 0.9% increase expected.