SINGAPORE--Singapore expects housing and transport costs to drive increases in consumer prices this year, a government minister said Monday.
The government for now still expects consumer price inflation to come in at 3.5%-4.5% this year, after the CPI index averaged a 4.2% increase from a year earlier in January and February, Second Minister for Trade and Industry S. Iswaran told Parliament.
Accommodation and car-ownership costs are likely to account for about 60% of inflation this year, Mr. Iswaran said Monday in response to a lawmaker's question. Full story
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