Singapore's August CPI up 6.4 Pct

Singapore's consumer price index (CPI) rose at an annual rate of 6.4 percent in August, due to higher costs of housing and food, but easing further from a 26- year high of 7.5 percent between April to June, government figures showed Tuesday.

From the previous month, the inflation rose 0.1 percent after seasonal adjustments, said the Singapore Department of Statistics (SDS) in a statement.

Arising from higher accommodation costs and electricity tariffs, housing cost advanced by 12.8 percent in August from a year ago, while food prices went up by 8.4 percent.

The CPI for the first eight months of 2008 was 6.9 percent higher compared with the same period of previous year, said the SDS.

The Monetary Authority of Singapore (MAS), the central bank, has raised its inflation forecast for 2008 to 6.0-7.0 percent from the previous 5.0-6.0 percent. 

Source: CRIEnglish