Thursday January 24, 2008

Singapore CPI inflation hits new 25-year high of 4.4% in December

businesstimes.com.sg -> singstat.gov.sg :

Singapore's December consumer prices rose a seasonally adjusted 0.5% from November, taking annual inflation in the republic to over a 25-year high on rising food and transport costs. From a year earlier, prices rose 4.4% from the 25-year high figure of 4.2% hit in November, the Department of Statistics said in a statement on Wednesday [23 Jan 2008].

Economists expect Singapore to maintain its policy of a gradual and modest appreciation of the Singapore dollar to tame inflation. Most analysts expect inflation in Singapore to climb in the coming months to a near three-decade high of 5% as surging costs for housing, transport, food and electricity tariffs push up consumer prices.

- We are heading straight into the classic stagflation scenario of slowing economic growth and rising inflation. Brace for more "surprises" as economic growth continues to slow "unexpectedly" while inflation continues to rise, also "unexpectedly".

See also :

1. Singapore : Inflation rate could push past 6% in Q1 2008
2. Singapore CPI inflation hits 25-year high of 4.2% in November
3. NTUC chief urges Singaporeans to be prepared to live with higher fuel, food prices

Updated :

1. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
2. Singapore CPI inflation rate hits 6.7% for Mar 2008, fastest in 26 years
3. Singapore CPI inflation hits 6.6% in Jan 2008 - a new 25-year record high

(2008-01-24 01:19:45 SGT) [Biz] Permalink

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