Singapore's Consumer Price Index (CPI) revealed a noteworthy turnaround in April 2024, reflecting an uptick from negative territory. The latest data, updated on 23 May 2024, indicates a 0.10% increase, showcasing an improvement from the -0.10% decrease observed in March 2024.
The month-over-month comparison highlights a positive shift in the economy after a period of decline. In March, the CPI dipped into negative territory, illustrating a contraction in consumer prices. However, April's recovery to a 0.10% increase suggests a stabilization and slight growth in consumer purchasing power and market prices within one month.
This change may signal easing deflationary pressures and rising consumer confidence. With economic adjustments and efforts to rejuvenate market dynamics, the positive CPI movement in April might be a precursor to a more sustained economic recovery in the coming months.
