Singapore's inflation rises to 5.4% in April
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SINGAPORE: Singapore's inflation rate accelerated in April to 5.4 per cent.
The year-on-year increase in the consumer price index (CPI) is up from an increase of 5.2 per cent in March, figures from the Department of Statistics show.
Higher accommodation costs were the major contributor to the April increase.
Private road transport costs also continued to climb because of elevated COE prices, although they rose at a slower pace than in March.
The Monetary Authority of Singapore's (MAS) core inflation rate, which excludes accommodation and private road transport, fell in April to 2.7 per cent from 2.9 per cent the previous month. It attributed the decline to lower services and food inflation.
MAS reiterated its forecast for inflation to "remain elevated over the next few months, before easing gradually" in the second half of 2012.
The central bank forecasts CPI inflation at 3.5 per cent to 4.5 per cent for the year as a whole, and core inflation in the range of 2.5 per cent to 3.0 per cent.
The MAS said accommodation costs, which include imputed rentals on owner-occupied homes, will remain the biggest contributor to consumer inflation this year, "as leasing contracts continue to be renewed at rentals that are considerably higher than those under existing contracts, especially in the HDB segment".
"Car prices could also increase if COE premiums rise further in response to tight COE supply," the MAS statement said.
"In addition, wages and other costs will likely continue to pass through to consumer prices, albeit at a more moderate pace than that during early this year."
- CNA/wm -
Lucky BC pay increase.
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Originally posted by QX179R:
SINGAPORE: Singapore's inflation rate accelerated in April to 5.4 per cent.
The year-on-year increase in the consumer price index (CPI) is up from an increase of 5.2 per cent in March, figures from the Department of Statistics show.
Higher accommodation costs were the major contributor to the April increase.
Private road transport costs also continued to climb because of elevated COE prices, although they rose at a slower pace than in March.
The Monetary Authority of Singapore's (MAS) core inflation rate, which excludes accommodation and private road transport, fell in April to 2.7 per cent from 2.9 per cent the previous month. It attributed the decline to lower services and food inflation.
MAS reiterated its forecast for inflation to "remain elevated over the next few months, before easing gradually" in the second half of 2012.
The central bank forecasts CPI inflation at 3.5 per cent to 4.5 per cent for the year as a whole, and core inflation in the range of 2.5 per cent to 3.0 per cent.
The MAS said accommodation costs, which include imputed rentals on owner-occupied homes, will remain the biggest contributor to consumer inflation this year, "as leasing contracts continue to be renewed at rentals that are considerably higher than those under existing contracts, especially in the HDB segment".
"Car prices could also increase if COE premiums rise further in response to tight COE supply," the MAS statement said.
"In addition, wages and other costs will likely continue to pass through to consumer prices, albeit at a more moderate pace than that during early this year."
- CNA/wmDon't worry. Our PM has the answer. WAGES MUST INCREASE.
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so so, there is nothing for us to do to benefit us. The Papigs have no heart for the low income or unemployed during inflation. Sickaporeans give mandate to a heartless self centred despots.
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Originally posted by winsomeea:
so so, there is nothing for us to do to benefit us. The Papigs have no heart for the low income or unemployed during inflation. Sickaporeans give mandate to a heartless self centred despots.
No, they have a solution. Increase GST to help the poor.
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Originally posted by Nelstar:
No, they have a solution. Increase GST to help the poor.
Ya la, the "poor" is them the Papigs, help to increase their pay to be the highest paid govt in the world.
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Originally posted by winsomeea:
Ya la, the "poor" is them the Papigs, help to increase their pay to be the highest paid govt in the world.
Yes. Increase pay to fight rising cost of living.
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Originally posted by Nelstar:
Yes. Increase pay to fight rising cost of living.
Papigs ! Money makes their world goes round and round. Money not enough, wants more .... insatiable appetite and greed for money.
Huat ah!
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how 'HIGH' is bank interest rate now?
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oh dear bad move - they going to increase sgreans low pay worker salry - making them lesser compatitive to the foreign less than 1k ones. don;t be so happy when they increase your salary
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Originally posted by troublemaker2005:
oh dear bad move - they going to increase sgreans low pay worker salry - making them lesser compatitive to the foreign less than 1k ones. don;t be so happy when they increase your salary
We need to set the minimum wage at 1k since it was proven that at 1k we can buy HDB.
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Yawn...
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Originally posted by Nelstar:
We need to set the minimum wage at 1k since it was proven that at 1k we can buy HDB.
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I thought now is global recession?
Why Singapore still high inflation?
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Originally posted by βÎτά:
I thought now is global recession?
Why Singapore still high inflation?
Coe so high, how can it be recession?
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Originally posted by βÎτά:
I thought now is global recession?
Why Singapore still high inflation?
No recession. Look at HDB prices.
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There is no such thing as recession as minister salaries are always so high.
And we know their salaries depend on high gdp.
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Lucky BC salary increased.