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Thursday, 23 February 2012

Singapore's inflation at 8-month low

Singapore: Singapore's headline inflation rate in January rose 4.8% year-on-year, easing from the 5.5% on-year rise in December 2011.

The 4.8% rise in the consumer price index (CPI) was the lowest year-on-year increase since May.

However core inflation - which excludes private property rentals - rose to a three-year high of 3.5%.

The Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) warned inflation will likely remain elevated in coming months.

Analysts say this indicates inflation remains a concern and that monetary
authorities are likely to keep policy tight.

- CNA/ir

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