A Singapore government official has informed on Monday that during this quarter the price of oil and commodities will rise further in the country and Singapore must be cautious on the inflationary hikes.

The experts have also suggested the policy maker that the economy should not be overheated by this inflation.

Finance Minister of the nation, Tharman Shanmugaratnam has said that increasing demand is expected from rising economies like China and weather-related troubles will lead to increase commodity prices.

He has stated that such issues are going to affect Singapore's economic condition this year. Moreover, he has also informed the officials in Parliament that inflation will probably go up in the first quarter of this year.

In November there was a rise of 3.8% in the Singapore's consumer price index, it is a measure of costs of goods and services. This rise was considered to be the fastest pace in 22 months.

However, Senior Minister of State for Trade and Industry, S. Iswaran has said that the government is expecting 4% to 6% economic growth in this year which is a fare rate.

This increased rate would support in job making and also wage growth in manufacturing and services industries. But as per Iswaran, the government should not consider inflation lightly.