Singapore inflation holds at 26-yr high

Reuters
Posted: 2008-07-23 11:42:15+05:30 IST
Updated: Jul 23, 2008 at 1142 hrs IST

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Euro zone July inflation hits record 4.1%Singapore inflation holds at 26-yr high Inflation out of control in some countries: IMF Inflation out of control in some countries: IMF

press conference on Thursday.

A sub-index for housing costs was up 13.4 per cent in June from a year ago while food prices rose 9.2 per cent.

Food and transport costs are the two largest components in Singapore's consumer price index basket, accounting for 23 per cent and 22 per cent respectively.

Inflation has accelerated at a faster pace than the yields on government bonds, driving real interest rates further into negative territory.

The yield on the 10-year Singapore government bond stood at 3.46 per cent on Wednesday, compared to a yield of 2.66 per cent at the start of the year.

However the central bank has said negative interest rates will not set off an asset price inflation because weakening demand amid slowing growth will cool prices....

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Singapore inflation holds at 26-yr high

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