Singapore inflation to hit 4% in 2011: MAS survey
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Mar 9, 2011
SINGAPORE'S inflation rate could hit 4 per cent this year, the highest level since 2008 and at the upper end of an official forecast range of 3-4 per cent, according to the central bank's quarterly survey of economic forecasters released on Wednesday.
The Monetary Authority of Singapore (MAS) said the median estimate of 20 private sector economists also showed inflation could hit 5.4 per cent in the first quarter.
Singapore's annual inflation spiked up to 5.5 per cent in January, far higher than analysts' expectations.
The MAS survey comes ahead of next month's monetary policy review when many economists expect the central bank will allow further currency appreciation to tame inflation.
Singapore, like most other Asian countries, is grappling with higher prices due to the region's strong economic growth, flush liquidity and stronger oil and commodity prices.
But the central bank last month was more cautious, saying its view of underlying price pressures had not changed much since its last policy review in October.
-- REUTERS
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strong S$ is still not enough.
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Everything so expensice, salary stretch out to the limit.
Pple are feeling the pinch.
More pinch coming soon.
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It's ok if the salary is $mil plus 8 month bonus.
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This is all because of that crazy Khadaffi fault. Lets send our Apache helicopter to overthrow Libya regime.
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Majority of local managers will not feel the pinch even the inflation increases for they are getting 5 figure salaried. Staff will feel it as salary is not much catch up with the inflation.