Wednesday, March 23, 2011

Inflation is up 5.0%

These are the Singapore inflation rates for 2011:
January: 5.5%
February: 5.0%

Transport and Housing are once again leading the pack, rising by a still astonishing 15.2% and 5.8% respectively year on year. The inflation for Transport reduced slightly, most probably because the COE prices have tamed somewhat due to the Chinese New Year effect. The high price of oil is also still evident as inflation still remains elevated across the board, except for Communications.

I'm still unsure why the Food inflation for Feb is slightly lower compared to Jan because as I recalled, many of the stalls have increased their prices from Chinese New Year, citing high raw material pricing. In fact, the inflation for Feb is tamer in general. Oh well. Maybe my memory is failing me.

This month's inflation should have shot up due to the Japan's crisis. Oil has risen to new heights and our petrol prices kept increasing. I would be surprised if the inflation remains at this level.

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