25 Feb '13, 5am

Singapore's January Inflation Slows More Than Estimated on Food - Bloomberg

Singapore's January Inflation Slows More Than Estimated on Food - Bloomberg

Singapore’s inflation slowed more than economists estimated in January as gains in food and housing costs eased. The consumer price index rose 3.6 percent from a year earlier, after climbing 4.3 percent in December, the Department of Statistics said in a statement today. The median estimate of 16 economists in a Bloomberg News survey was 4 percent. The city-state’s policy makers have sought to contain price gains by allowing a gradual appreciation in the currency and introducing property-cooling measures. Overall inflation will remain elevated, with month-to-month fluctuations as a result of car prices and home rentals, the central bank and Trade Ministry said today. Today’s figure “will probably not be enough for the Monetary Authority of Singapore to change its current exchange- rate stance,” Michael Wan, a Singapore-based economist at Credit Suisse Group AG, said before...

Full article: http://www.bloomberg.com/news/2013-02-25/singapore-s-janu...

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