Singapore's consumer prices rose in August at the fastest pace in more than 12 years, suggesting the central bank will maintain a policy of allowing its currency to appreciate to damp inflation.
The consumer price index increased 2.9 per cent from a year earlier, after gaining 2.6 per cent in July, the department of statistics said Monday. That was the quickest pace since December 1994 and exceeded the 2.8 per cent expected by economists. Prices rose 0.3 per cent from July.
The central bank last month raised its forecast for inflation this year after prices gained the most in more than a decade in July following an increase in the goods and services tax, or GST. The Monetary Authority of Singapore, which has sought a "gradual and modest'' strengthening in the currency since April 2004, will review its policy next month. — Internet
S’pore inflation highest in more than 12 years
FE Team | Published: September 25, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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