Monday, July 23, 2012

Inflation is up 5.3%

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%
June: 5.3%

Transport and housing are once again leading the pack, rising by 9.7% and 8.7% respectively year on year, a huge jump compared to May, especially food and transport inflation. My initial estimation of the inflation was far off by more than 0.5%, even though oil prices have been steadily dropping. Looks like the downward trend has been reversed.

Inflation for this month may be around 5%, due to the housing rebates that are coming in. In fact based on my estimation, the average inflation for 2012 seems to be hitting 5%, not very different from the inflation of 2011. Inflation is going down everywhere except Singapore. :(

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