Sunday, April 26, 2009

Inflation is up 1.6%

These are the Singapore inflation rates for 2009:
January: 2.9%
February: 1.9%
March: 1.6%

Food and Housing is leading the charge, rising by 4.6% and 5.5% respectively year on year. Surprisingly, compared to February, food prices has risen for March. This proves that Singaporeans do not stinge on food. Housing prices has been moderating downwards, as expected. Transport & Communication prices has dropped the most, which is similar to last month. The rest of the CPI basket did not vary much compared to last month.

Transport & Communication, and Housing will most probably go down a fair bit in April, and will continue to tread downwards. Judging from the trend, it also seems that food prices is quite resilient, and will remain stable for at least the first half of the year. I'm still of view that inflation will still be positive in April to June, ranging around at least 1%.

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