Friday, October 23, 2009

Inflation is down 0.4%

Updated 24 Oct 2009: Added my personal comments for this year

These are the Singapore inflation rates for 2009:
January: 2.9%
February: 1.9%
March: 1.6%
April: -0.7%
May: -0.3%
June: -0.5%
July: -0.5%
August: -0.3%
September: -0.4%

This time, it's Health Care and Education and Stationary that is leading the charge, rising by 2.1% and 2% respectively year on year. Housing costs once again decreased the most for the month (-2.5%). As indicated previously, transport and communication inflation has narrowed to -0.2%. I won't be surprised that turns positive for October.

What is surprising is the increase in Education and Stationary year-on-year and there was no explanation on this sudden spike. Has educational cost increased substantially? I cannot recall reading such news last month. Hmm...

I'm not of view that inflation will be back to positive for December as I do not see the demand for this year's Christmas to be as great as last year (Christmas sales have already started). However, there might be a spike in inflation for housing in Nov and Dec due to the quarterly review of the electricity prices. Still, I do not see the spike to be that great.

Anyway, inflation for 2009 as indicated in my post here should still be around 0.1% to 0.2%.

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