Singapore Raises Inflation Forecast on Record Growth

Singapore raised its inflation and export forecasts for 2011 after the economy expanded at a record pace last year, sustaining pressure on the central bank to allow greater currency appreciation.

Consumer prices may climb as much as 4 percent this year while exports may rise 10 percent, the trade ministry said today. The economy expanded a revised 14.5 percent in 2010, with gross domestic product growing an annualized 3.9 percent in the three months to Dec. 31 from the previous quarter, it said.