Singapore Raises 2011 Inflation Forecast

Singapore’s economy expanded at a slower pace than first estimated in the 4th Q of 2010, but the government raised its inflation forecast for this year. The Ministry of Trade and Industry said Thursday it expects the island state’s inflation rate to reach 3% to 4% this year, higher than its previous forecast of 2%-3%, and warned it could hit 5% to 6% in the first few months of the year before moderating in the second half. – The WSJ