Monday, December 24, 2007

Inflation is up 4.2%!

Seems like the government always know when to announce bad news. When everyone's attention is on something else, like Christmas.

These are the Singapore inflation rates since July:
July: 2.6%
August: 2.9%
September: 2.7%
October: 3.6%
November: 4.2%

The average has hit 1.9% so far for the first 11months. That means full year inflation should hit more than 2.1% for 2007. That is more than what I have estimated in my previous post. Revising the estimates again, inflation for 2008 maybe around 3.8%. That's only the average inflation. Judging from the bad harvests and climate change, I see that food inflation might hit more than 5% next year if the world governments do nothing to stop this blatant exploitation of earth's resources.

Stagflation is fast becoming a reality. Boy I hate growing up.

1 comment:

chantc said...

Latest news is that electricity bills will go up by an average of 5.94% next year.

Don't forget that the supermarkets have been absorbing the 2% extra GST for 6 months, and they will start charging next year.

All in all... I think my next year's inflation is revised upwards to 4.3%. This is getting bad.

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