11 Apr '11, 10pm

Inflation has likely peaked and is expected to ease for the rest of the year: Lim Hng Kiang

Inflation has likely peaked and is expected to ease for the rest of the year: Lim Hng Kiang

The Government is also embarking on a multi-pronged approach to tackle food price inflation, which includes diversifying Singapore's sources of food from overseas. -- ST FILE PHOTO INFLATION has likely peaked and will moderate for the rest of the year, said Trade and Industry Minister Lim Hng Kiang. Assuming no further increase in oil price, inflation should stay between 3 per cent and 4 per cent. 'This means CPI (consumer price index) inflation, which rose by 5.2 per cent on a year-on-year basis in the first two months of 2011, is expected to moderate from now on,' Mr Lim told Parliament yesterday. He was responding to Madam Ho Geok Choo (West Coast GRC) and Madam Cynthia Phua (Aljunied GRC), who wanted to know if inflation projections have been changed following higher oil and food prices resulting from events in Japan and the Arab world. Inflation in Singapore hit a two...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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