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Singapore Inflation Rate Climbs to Highest in 18 Months Amid Record Growth
September 24th, 2010 | Author: Your Correspondent
<---- http://www.bloomberg.com/news/2010-09-23/singapore-inflation-rate-climbs-to-highest-in-18-months-amid-record-growth.html
Bloomberg, 23 September 2010
Singapore’s inflation accelerated to an 18-month high as record economic growth in the first half of the year spurred demand for goods and services, sustaining pressure on the central bank to allow currency gains.
The consumer price index climbed 3.3 percent in August from a year earlier, Singapore’s Department of Statistics said in a statement today. That matched the median estimate of 10 economists surveyed by Bloomberg News. Prices rose 0.5 percent from July, without adjusting for seasonal factors.
Singapore’s economy expanded at a record 17.9 percent pace in the first six months of the year, as surging exports bolstered manufacturing and the opening of two casino-resorts boosted services. The government, which expects gross domestic product to grow 13 percent to 15 percent this year, has tightened lending rules to curb speculation after home prices surged 38 percent last quarter.
September 24th, 2010 | Author: Your Correspondent
<---- http://www.bloomberg.com/news/2010-09-23/singapore-inflation-rate-climbs-to-highest-in-18-months-amid-record-growth.html
Bloomberg, 23 September 2010
Singapore’s inflation accelerated to an 18-month high as record economic growth in the first half of the year spurred demand for goods and services, sustaining pressure on the central bank to allow currency gains.
The consumer price index climbed 3.3 percent in August from a year earlier, Singapore’s Department of Statistics said in a statement today. That matched the median estimate of 10 economists surveyed by Bloomberg News. Prices rose 0.5 percent from July, without adjusting for seasonal factors.
Singapore’s economy expanded at a record 17.9 percent pace in the first six months of the year, as surging exports bolstered manufacturing and the opening of two casino-resorts boosted services. The government, which expects gross domestic product to grow 13 percent to 15 percent this year, has tightened lending rules to curb speculation after home prices surged 38 percent last quarter.
