Tuesday, June 26, 2012

Inflation is up 5%

Updated 23 Aug 2012: Realised that the calculations are wrong. Updated the numbers

These are the Singapore inflation rates for 2012:
January: 4.8%
February: 4.6%
March: 5.2%
April: 5.4%
May: 5.0%

Transport and Housing are leading the pack, rising by 9.2% and 8.2% respectively year on year. Inflation was generally weaker than the expected 0.1% to 0.2% drop that I've estimated, which I believe was mainly due to the housing rebates that were distributed. Transport was the only sector that buck the trend, no thanks to the every high COE prices that seems to defy gravity. I always wonder who are the ones who are willing to pay $50,000 for one piece of paper that is valid for only 10 years.

This month's inflation may be slightly lower by 0.3%-0.4% compared to May due to the recent Europe crisis affecting prices across the board, the drop in oil prices. July is a crucial month to determine if the downward trend will continue. All eyes are now on Greece, Spain and Italy.

No comments:

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

Related Posts Plugin for WordPress, Blogger...