02 Sep '11, 10pm

Inflation to remain high at over 5%, says MAS

SINGAPORE - More tough times lie ahead for Singaporeans as the cost of living is expected to stay high even as the economic outlook remains cloudy. In a quarterly report released yesterday, the Monetary Authority of Singapore (MAS) said that headline CPI (consumer price index) inflation will "remain elevated over the next few months". "CPI inflation is expected to come in at slightly over 5 per cent in the next few months, boosted by accommodation and private road transport costs, before slowly trending down towards the end of the year," the central bank said. "Excluding these items, MAS core inflation will be lower, although it will still be firm due to the continued pass-through of earlier commodity price hikes and wage increases," it added. The Department of Statistics (DOS) last week said July CPI was up 5.4 per cent from the same month in the previous year, much highe...

Full article: http://www.todayonline.com/Business/EDC110903-0000302/Inf...

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