Thursday December 27, 2007

Singapore CPI inflation hits 25-year high of 4.2% in November

This article belongs to the Singapore inflation watch story arc.

channelnewsasia.com :

Singapore's consumer prices rose faster-than-expected in November, underpinned by higher costs for food and housing, said the Department of Statistics on Friday [21 Dec 2007]. The consumer price index - a non-core measure of costs for goods and services - rose 4.2% from a year earlier, after rising 3.6% in October.

Last month, the government raised its inflation forecast for next year to 3.5-4.5%, with a peak at around 5% at the start of 2008. Rising costs of imported goods and a robust real estate market sparked a pickup in inflation late this year, prompting the central bank to tighten monetary policy in October.

Housing costs increased on account of higher rents. Prices for food were higher as a result of more expensive vegetables, bread, and fresh pork. Transport expenses also increased, mainly as a result of more costly gasoline.

- Inflation is taking off worldwide. The major central banks are increasing money supply at double-digit rates. There is nowhere to hide.

See also :

1. Singapore CPI inflation hits 16-year high
2. China CPI inflation surges to 11-year high of 6.9% on food, fuel
3. Fuel prices seen stoking Malaysia inflation in 2008
4. European money supply growth accelerated unexpectedly in October

Updated :

1. Singapore CPI inflation rate for May 2008 continues at 26-year high of 7.5%
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Singapore CPI inflation rate hits 6.7% for Mar 2008, fastest in 26 years

(2007-12-27 23:33:58 SGT) [Biz] Permalink

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out