Thursday, January 24, 2013

Inflation is up 4.3%

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%
July: 4%
August: 3.9%
September: 4.7%
October: 4% 
November: 3.6%
December: 4.3%

Transport and Housing are leading the pack, rising by 8.2% and 6.7% respectively year on year, rising significantly from November's inflation. In fact, inflation has raised almost across the board compared to November.

This year's inflation is 4.6%, 0.1% more than what I expected because I did not expect December's inflation to be that high. That only means one thing. Retailers may be hurt by the on-going problems in Europe and USA, not to mention the sky high property rentals in Singapore, so they may not be able to offer the discounts as per what I've seen in previous years.

Economy growth, 1.2%. Inflation, 4.6%. Oh well. We are after all still in the throes of a global recession. At least it's not the great recession. Looking at the on-goings this month, I'm also not very optimistic that inflation will be going down much.

Let's see...

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