Thursday, April 24, 2008

Singapore Inflation At 6.7 Percent In March: Government

Source :AFP, Apr 24, 2008




Singapore's annual inflation was 6.7 percent last month, boosted by higher costs of food, transport, communications and housing, the Department of Statistics said on Wednesday.

The March consumer price index figure was down 0.1 percent from February's figure, the department added.

On a seasonally adjusted basis, the index was 0.3 percent higher in March compared with the previous month, it said.

Inflation reached 6.6 percent in the first three months of 2008, compared with the same period last year.

Singapore is not alone in grappling with inflation.

The United Nations food agency on Tuesday said the world faces a "silent tsunami" of soaring food prices and more must be done to help secure future supply.

Rising food prices are driving more people in Singapore, the wealthiest economy in Southeast Asia, to join the queue for free meals, charities say.

Crude oil is also trading at near record high prices globally. --AFP

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