Saturday, July 24, 2010

Inflation is up 2.7%

These are the Singapore inflation rates for 2010:
January: 0.2%
February: 1.0%
March: 1.6%
April: 3.2%
May: 3.2%
June: 2.7%

Transport and Housing are leading the pack instead, rising by 10.3% and 2.3% respectively year on year. Inflation was surprisingly tamer than last month, due to the decrease of Recreation & Others due to the Great Singapore Sale and lowering of the Transport prices (cars & petrol).

The lowering of the Transport inflation (compared to 15% previous month) is surprising as I thought the COE prices will cause the inflation to rocket sky high and the oil price has been fairly stable. Not really sure how the inflation is being calculated now for Transport. However, since I was not in Singapore for quite some time in June, I reserve my comments. I may have missed out on some news. :)

Inflation for July may be slightly lower due to the Distance based charging that came into place. However, COE prices have also been shooting up this month. Hard to say which direction it will go. I feel though that the Distance based charging will cause the inflation to dip slightly.

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