The MAS said in a statement that oil and food prices were likely to stay high for some time. 'Domestic cost pressures will persist due to short-term capacity constraints in certain segments of the economy,' it added.
Inflation is expected to moderate in the latter half of the year, but experts believe policymakers should consider moves beyond currency strengthening.
'A stronger Singdollar cannot mitigate domestic sources of inflation like higher housing costs, wage costs and road usage costs,' said Standard Chartered Bank economist Alvin Liew.
Inflation or not, you have to pay the IRAS. The good news? They do not have inflation adjusted tax rates!
Filing deadline 15th April 2008
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