Tuesday, December 23, 2008

Inflation is up 5.5%

These are the Singapore inflation rates for 2008:
January: 6.6%
February: 6.5%
March: 6.7%
April: 7.5%
May: 7.5%
June: 7.5%
July: 6.5%
August: 6.4%
September: 6.7%
October: 6.4%
November: 5.5%

Food and Housing is leading the charge, rising by 6.9% and 15.7% respectively year on year. One thing that I did not expect is that food, and recreation and others went down by almost 1% compared to last month. It just goes to show conditions can change drastically in 1 month.

Judging from the current economic conditions, inflation will be around 6.6% for the year 2008, down from my earlier estimate of 6.8% here. If it persists, we might have deflation for the first half of the 2009. Good or bad? Depends...

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