Saturday, December 24, 2011

Inflation is up 5.7%

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%
August: 5.7%
September: 5.5%
October: 5.4%
November: 5.7%

Transport and Housing are once again leading the pack, rising by 11.6% and 10% respectively year on year. The inflation was as expected in my previous post, most probably due to the increase in food and housing inflation. The Christmas sale is still pushing down the inflation for Clothing & Footwear but apparently, it did not filter down to the all important food items.

December inflation will most probably will go slightly lower if nothing happens on the world front. That will bring inflation to about 5.2% for 2011, as I've indicated back in August here. However, this was way higher than I initially estimated back in May here, mainly due to the war at Libya and the EU crisis.

One thing for sure. I don't think we'll have a 5.2% salary increase for 2012.

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