Consumer prices in Singapore rose 1.6% year-on-year in March, slowing from a 1.9% increase in February, the Department of Statistics said Thursday. However, the rise in consumer prices matched economists' expectations.

In March, transport and communication prices fell 5.4% year-on-year, while that of education and stationery was down 0.4%. At the same time, housing prices rose 5.5%, and food prices were up 4.6%.

Month-on-month, consumer prices fell 0.4% in March, following a 0.5% drop in the previous month. This was mainly due to lower cost of housing and transport and communication. Housing prices dipped 1.7%, while transport and communication prices were down 0.6%. However, clothing and footwear prices rose 1.2%.

On a seasonally adjusted basis, consumer prices were flat in March compared to the preceding month.

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