A general view shows the skyline of the financial business district in Singapore on October 20. (Photo: AFP/VNA)
Singapore (VNA) -Prices in Singapore are rising more sharply than expected, with inflation atits highest in several years.
It is attributed to greater domestic demand for goods and services as the economyrecovers.
On the flip side, prices are also being driven up by rising importcosts amid global transportation bottlenecks.
Overallinflation edged up to 3.8 percent in November, from October’s more tꦺhan the eight-year high of 3.2 percent. It outdid the 3.4 percent forecast by ꦑanalystspolled by Bloomberg.
Core inflation, excluding rents andprivate trucking costs, rose to 1.6 percent, from 1.5 percent in October, amidrising service costs and it is expected to grow in the coming months.
Private transport inflation rose to17.9 percent in November, from 14.3 percent of the previous month due to anincrease in car prices. Electricityand gas costs also saw a remarkable increase – at 10 percent in November, comparedwith October’s 7.8 percent as some retailers exited the market.
Services inflation rose to 1.9 percent from 1.6 percent in October, due to a faster pace of increase in airfaresas border restrictions eased. Home rents rose, leading to accommodationinflation of 2.7 percent, compared with October’s 2.5 percent. Food inflationalso climbed to 1.9 percent in November, from 1.7 percent the previous month.
MAS and MTI raised their overallinflation forecast for this year to 2.3 percent, up 2 percent compared to theprevious forecast, given the sharp rise in private transport costs in recentmonths. They kept their overall inflation estimate for 2022 unchanged at 1.5-2.5 percent. The core inflation is projected to be at 0.9 percent for 2021 andincrease 1-2 percent further in 2022.
The MAS and MTI said on December 23that wages have increased and are anticipated to continue to rise a༒t a steady pace as thelabour market dissipates, thereby, driving up both costs and prices./.
Singapore's non-oil domestic exports (Nodx) expanded 17.9 percent in October 2021, hitting a record high after a growth of 20.5 percent four years ago.
Singapore’s economic growth may slow down to 3 - 5 percent in 2022 amid an uneven domestic recovery and lingering uncertainty over global growth, according to the country’s Ministry of Trade and Industry (MTI).
Singapore’s retail sales in October rose by 7.5 percent annually after registering a 6.8 percent increase in September, reported the Department of Statistics Singapore (DOS) on December 3.
Singapore's economy will grow by 4 percent next year, likely be driven by improvements in the construction sector as well as manufacturing and finance, according to a survey of professional forecasters.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
A general view shows the skyline of the financial business district in Singapore on October 20. (Photo: AFP/VNA) 
