By Esther Teo

SINGAPORE sunk deeper into deflationary territory last month, with the consumer price index (CPI) dropping 0.8 per cent year-on-year.

The greater-than-expected dip in prices comes after a 0.4 per cent fall in September and marks the seventh consecutive month of year-on-year declines.

October's fall is being put down to reduced housing costs, which are 4.7 per cent lower than the same month last year due to cheaper electricity and gas tariffs, as well as liquefied petroleum gas (LPG).

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