These are the Singapore inflation rates for 2008:
January: 6.6%
February: 6.5%
March: 6.7%
Inflation is highest since 1982. Clothing & Footwear, and Recreation & Others lead the charge while the rest held mostly steady. However, this is for March. Now its almost May. Expect April's inflation to hit maybe even 7%. Food prices are rising drastically. Even tuckshops in schools are raising their prices soon. Another will be transport prices. The price of oil is going ballistic now.
I do not even seen an end to these rising of prices. The worst part is due to the weakening of the global economy, our salaries will not even rise to match inflation. The tipping point has been reached and we're in for a free-fall. Like a trapezium, there might be moments where the economy seems to be bounding up but its actually slowing down. If momentum is not "injected in" through innovation and new technologies (not giving away money), what happened in 1929 will be re-played again.
I wonder what is it like living in the era of great depression. I might not wait long for that to happen.
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