Banking, investment chiefs say high inflation levels no longer transitory

All-items inflation in Singapore rose to 2.5 per cent in September on a year-on-year basis. PHOTO: ST FILE
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SINGAPORE - Higher inflation is expected over the next few years as the world emerges from the Covid-19 pandemic, according to senior bankers at a forum in Singapore on Wednesday (Nov 17).

UBS Group chairman Axel Weber told the event that while growth and economic recovery should continue, governments and central banks have important roles to play in ensuring prices are stable because rising inflation is no longer temporary and will likely reset at uncomfortably higher levels over the next "one to three years".

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