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Singapore Oct inflation +5.4 pct y/y, exceeds consensus
http://sg.finance.yahoo.com/news/Singapore-Oct-inflation-5-4-rsg-3789030965.html?x=0
On Wednesday 23 November 2011, 13:01 SGT
* Oct CPI +0.2 m/m s/adj vs +0.2 pct f/cast
* Oct CPI +5.4 pct y/y vs +5.2 pct f/cast
* MAS's core inflation measure +0.3 pct m/m; +2.3 pct y/y
SINGAPORE, Nov 23 (Reuters) - Singapore's Department of Statistics released consumer price index data for October on Wednesday:
PCT OCT SEP AUG JUL JUN MAY APR MAR *MoM 0.2 0.0 0.5 0.6 0.4 0.6 0.0 0.3
YoY 5.4 5.5 5.7 5.4 5.2 4.5 4.5 5.0 * Data is seasonally adjusted
CONTEXT:
- Transportation prices rose 10.5 percent from a year ago, while housing costs gained 9.9 percent year-on-year.
- The central bank's core inflation measure, which excludes changes in the price of cars, accommodation and other categories influenced by government policy, rose 0.3 percent month-on-month, after coming in unchanged in September.
- The core inflation measure rose 2.3 percent from a year ago, accelerating from a gain of 2.1 percent in September.
- Prices in Singapore rose 5.2 percent in January to October from a year ago.
- The Monetary Authority of Singapore (MAS) expects inflation of 2.5 to 3.5 percent next year, compared to around 5 percent this year. MARKET IMPACT:
- October's higher-than-expected inflation figure suggests the central bank has less room to ease its tightening bias slightly. According to most estimates, the Singapore dollar is already trading near the bottom of its trading band.
- In its Oct 14 policy statement, MAS retained its bias for a modest and gradual appreciation of the Singapore dollar, but said it would reduce the pace of appreciation. (Reporting by Kevin Lim)
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Inflation ,especially without real growth, is a form of taxation-> an invisible tax!
Milton Friedman on Printing Money
http://www.youtube.com/watch?v=qmndhS-Qf20&feature=related
<iframe width="480" height="360" src="http://www.youtube.com/embed/qmndhS-Qf20" frameborder="0" allowfullscreen></iframe>
Inflation is a Destructive Disease - Milton Friedman
http://www.youtube.com/watch?v=ixsd4lN4BDk&feature=related
<iframe width="640" height="360" src="http://www.youtube.com/embed/ixsd4lN4BDk" frameborder="0" allowfullscreen></iframe>
http://sg.finance.yahoo.com/news/Singapore-Oct-inflation-5-4-rsg-3789030965.html?x=0
On Wednesday 23 November 2011, 13:01 SGT
* Oct CPI +0.2 m/m s/adj vs +0.2 pct f/cast
* Oct CPI +5.4 pct y/y vs +5.2 pct f/cast
* MAS's core inflation measure +0.3 pct m/m; +2.3 pct y/y
SINGAPORE, Nov 23 (Reuters) - Singapore's Department of Statistics released consumer price index data for October on Wednesday:
PCT OCT SEP AUG JUL JUN MAY APR MAR *MoM 0.2 0.0 0.5 0.6 0.4 0.6 0.0 0.3
YoY 5.4 5.5 5.7 5.4 5.2 4.5 4.5 5.0 * Data is seasonally adjusted
CONTEXT:
- Transportation prices rose 10.5 percent from a year ago, while housing costs gained 9.9 percent year-on-year.
- The central bank's core inflation measure, which excludes changes in the price of cars, accommodation and other categories influenced by government policy, rose 0.3 percent month-on-month, after coming in unchanged in September.
- The core inflation measure rose 2.3 percent from a year ago, accelerating from a gain of 2.1 percent in September.
- Prices in Singapore rose 5.2 percent in January to October from a year ago.
- The Monetary Authority of Singapore (MAS) expects inflation of 2.5 to 3.5 percent next year, compared to around 5 percent this year. MARKET IMPACT:
- October's higher-than-expected inflation figure suggests the central bank has less room to ease its tightening bias slightly. According to most estimates, the Singapore dollar is already trading near the bottom of its trading band.
- In its Oct 14 policy statement, MAS retained its bias for a modest and gradual appreciation of the Singapore dollar, but said it would reduce the pace of appreciation. (Reporting by Kevin Lim)
=================================
Inflation ,especially without real growth, is a form of taxation-> an invisible tax!
Milton Friedman on Printing Money
http://www.youtube.com/watch?v=qmndhS-Qf20&feature=related
<iframe width="480" height="360" src="http://www.youtube.com/embed/qmndhS-Qf20" frameborder="0" allowfullscreen></iframe>
Inflation is a Destructive Disease - Milton Friedman
http://www.youtube.com/watch?v=ixsd4lN4BDk&feature=related
<iframe width="640" height="360" src="http://www.youtube.com/embed/ixsd4lN4BDk" frameborder="0" allowfullscreen></iframe>
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