Friday, May 23, 2008

Inflation is up 7.5%

These are the Singapore inflation rates for 2008:
January: 6.6%
February: 6.5%
March: 6.7%
April: 7.5%

Inflation is again highest since 1982. April's inflation is lead by food, transport and housing. I've written in the last post that inflation will hit 7%. I did not expect it to hit 7.5% though.

Am I surprised? Actually no. I expect this elevated inflation to last at least until June, with inflation hitting at least 7%.

MTI said that inflation was running ahead of what they expected. I would say that they did not read the world news properly. The signs are everywhere that inflation will hit this high, and I've seen the signs since last year. China, India, Geopolitical problems...

And the world is forgetting one more thing... The hurricane season is coming, and look how abnormal the weather is for this year. Be prepared for an interesting second half of the year.

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