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Singapore inflation hits 16 year highSingapore inflation hits 16 year high
lil dickie said: "Inflation is rearing its ugly world around the world. Even [url=http://www.cnbc.com/id/21933999]Singapore[/url] is experiencing record levels.
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Singapore's October inflation leapt 3.6 percent from a year ago to a 16-year high, reflecting higher costs for food and transport, data showed on Friday, putting pressure on the central bank to curb rising prices.
The unexpectedly high figure came just days after the government raised its inflation forecast for next year to 3.5-4.5 percent, with a peak at around 5 percent at the start of 2008.
In a note to clients headlined "Shock, horror", HSBC economist Robert Prior-Wandesforde said that prices were being pulled up by an almost perfect storm of rising prices for energy, food and commodities.
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Right now it really is time for being a commodity-based economy. I am sure we will be hearing much more inflation stories everywhere as energy prices get worse."