This is a transcript of top stories presented by China's CCTV Business Channel as produced by CNBC Asia Pacific.
Good evening, I'm Saijal Patel from CNBC and you're watching "Asia Market Daily".
Inflation is a major concern for many Asian nations at the moment, and Singapore is no different.
Just last month, the Monetary Authority of Singapore widened the trading band for its currency, as a way of tightening monetary policy.
CNBC's Sri Jegarajah takes a look at how the recent rise in food prices is impacting Singaporeans.
Jegarajah: Most people will just suck it up and pay higher prices won't they?
Song Seng Wun, economist, CIMB: Well because you say go to regular places, you just say auntie can you give me more. It costs more, ok ok lah I give you 5 cent discount, that kind of thing.
Jegarajah: You haggle.
(VOXPOP)"Because all we sell, is the regular customers here. That's why, we cannot push the price going up."
(VOXPOP)"Right now, there is little change. I guess, our government has done a part in helping to control the prices a little bit."
Song: We have certainly seen, you know, food prices in China, for instance, going up, pork, sugar, etc., and in Singapore itself, even the men on the street are starting to feel the effect of higher food prices, weather supply disruption in key countries like Thailand, in Malaysia, have seen their supply of vegetables for instance, costing a little bit more.
Jegarajah: Talk to us about the monetary policy levers that are available to the Singapore authorities, to the de facto central bank - the MAS, because it doesn't use interest rate as the typical lever, does it? It uses the currency, explain to us how that works.
Song: So one way to contain imported inflation, if the economy can take it, it's obviously allow the currency to appreciate, and if the economy can take that appreciation, then I will say it will go someway towards containing higher food prices coming from supply disruptions abroad, but that will only take you somewhere, in terms of allowing the exchange rate to appreciate.
Jegarajah: So overall, you are quite confident that the Singapore authorities are ahead of the curve in containing the inflationary pressure, that could be building further down the line?
Song: I think, this is one country that looks very far forward, so if you are so dependent on food from abroad, what you do is make sure that you have more supplies of food from more places. So say twenty years ago, you may see food from nearer countries - Australia being the furthest, or Thailand, or Malaysia, or Indonesia - you are seeing Singapore basically reaching out. You see pig from Argentina, you get chicken wings from Brazil, and other stuffs from nearer as well. More food coming from Europe as well.
Thanks for watching "Asia Market Daily".
I'm Saijal Patel from CNBC, good evening.
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