Tuesday, August 23, 2011

Inflation is up 5.4%

These are the Singapore inflation rates for 2011:
January: 5.5%
February: 5.0%
March: 5.0%
April: 4.5%
May: 4.5%
June: 5.2%
July: 5.4%

Transport and Housing are once again leading the pack, rising by 11.5% and 9.5% respectively year on year. The inflation was much higher than I expected from my previous post mostly due to the spike in transport and housing costs. I believe the effect of the rebates have worn off by July.

Based on the level of inflation this month, I believe the inflation may even shoot up to about 5.8% for August. If that's the case, average inflation for this year may hit 5% or more. Let's hope the lower price of commodities now will filter down soon. Currently we're not seeing any savings filtering down and do not forget that starting October, there's going to be an increase of 1% in transport cost.

Another year of high inflation.

No comments:

Visit Rhinestic's Knick Knacks @ Etsy for handmade goods and supplies!

Related Posts Plugin for WordPress, Blogger...