18 May '11, 1pm

S'pore's inflation rate 'set to ease': INFLATION has probably peaked and will average between 3 per cent and 4 p...

INFLATION has probably peaked and will average between 3 per cent and 4 per cent this year, according to Monetary Authority of Singapore (MAS) managing director Ravi Menon on Wednesday. The Consumer Price Index rose 5.2 per cent in the first quarter but the central bank expects price rises to ease, thanks in part to the strong Singapore dollar. The currency is trading near record levels against many major currencies and has played a major role in keeping prices in check. The US dollar was worth S$1.24 on Wednesday, close to its all-time low of $1.22. The MAS preemptively tightened exchange rate policy in April last year and followed up with more tightening in October and again last month. 'Allowing the Singapore dollar to strengthen has had a dampening effect on inflation in Singapore, which would otherwise have been much higher,' noted Mr Menon, who was speaking at the Ba...

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

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