Bloomberg.com, 25 May 2009, Shamim Adam
May 25 (Bloomberg) -- Singapore’s consumer prices fell for the first time since June 2005 last month as transport and housing costs dropped amid the deepest recession in the nation’s 44-year history.
The consumer price index declined 0.7 percent from a year earlier, after gaining 1.6 percent the previous month, the Department of Statistics said in a statement today. That compares with the median forecast for a 0.6 percent gain in a Bloomberg News survey of 11 economists. Prices declined 1.1 percent from March, without adjusting for seasonal factors.
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