MAS Up Inflation Forecast to 6-7%

Singapore's central bank has revised up its inflation forecast for 2008 for the third time. It now expects inflation to come in at between 6 and 7 per cent from its initial estimate of 5 to 6 per cent. The consumer price index for the first half of 2008 was 7.1 per cent higher compared with the same period in 2007.

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