Thursday, May 24, 2012

Inflation hits 4-month high: MAS

The Monetary Authority of Singapore (MAS) has announced that inflation climbed to a four-month high in April, following simultaneous increases in housing and transport costs.

In a statement, the MAS said that the consumer price index grew 5.4 percent in April compared to the same period last year and up from March’s 5.2 percent.

In addition, the bank said that housing prices climbed 11 percent, alongside a 7.5 percent growth in transport costs.

Meanwhile, inflation is expected to remain at an average of five percent in the first half of the year, before gradually slipping. The MAS has maintained its inflation forecast at 3.5 to 4.5 percent this year.

Despite weaker economic conditions, inflation has accelerated this year. The government is forecasting that the economy will grow as little as one percent compared to last year’s 4.9 percent.

View the original article here

Source From Property Guru

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