02 Sep '11, 1pm

Singapore inflation rate expected to remain high: MAS

Singapore inflation rate expected to remain high: MAS

Singapore's inflation rate will remain high in the next few months even though the global economy is expected to slow. -- PHOTO: BLOOMBERG By Aaron Low Singapore's inflation rate will remain high in the next few months even though the global economy is expected to slow, said the Monetary Authority of Singapore (MAS) on Friday. In a quarterly report that looks at the Republic's economic performance for the last quarter, the MAS said that inflation here will stay above 5 per cent for now. 'Inflation is expected to remain elevated at slightly over 5 per cent in the next few months, on account of continued strong increases in accommodation costs, before slowly trending down towards the end of the year,' said MAS. The high costs of buying cars will also add to the upward pressure on the consumer price index, a basket of commonly used goods and services used to measure inflation...

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

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