Wednesday, December 23, 2009

Inflation is down 0.2%

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%
October: -0.8%
November: -0.2%

Transport & Communication and Health Care is leading the charge, rising by 2.4% and 2.3% respectively year on year. Housing costs once again decreased the most (-4.6%) but will most probably increase from 1st January 2010 due to the increase in property tax, but will be mitigated slightly by the tax rebates. As indicated previously, transport & communication inflation has risen quite substantially..

The good news (for business) is that except for housing costs, deflation has stopped and prices are rising compared to last year. This is one of the signs that the economy is recovering. This year's inflation should be up around 0.2% year on year.

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