| Singapore's central bank has raised its inflation forecast for this year because of higher expected housing and transportation costs. Monetary Authority of Singapore Managing Director Ravi Menon said in a speech Thursday that the bank expects an inflation rate between 4 percent and 5 percent, one percentage point higher than its previous forecast. Menon said the government's 2011 economic growth forecast between 5 percent and 7 percent remained unchanged. Menon said a stronger Singapore dollar has helped lessen the impact of higher global oil and food prices. Singapore's inflation rate fell to 4.5 percent in May from 5.5 percent in January. politics story In a story July 8 about a Singapore public opinion survey, The Associated Press erroneously quoted Member of Parliament Vikram Nair as saying he was less concerned with the 40 percent of the electorate who did not vote for his party in recent polls than the 60 percent who did. The correct quote is: "One of the things one of my friends reminded me was, you can change, but don't forget, don't change for the 40 percent, also the 60 percent who voted for you." |
