Tuesday, April 23, 2013

Inflation is up 3.5%

These are the Singapore inflation rates for 2013:
January: 3.6%
February: 4.9%
March: 3.5% 

Transport and Housing are leading the pack, rising by 6.9% and 4.1% respectively year on year, where transport is significantly lower due to the sharp decrease in private transport costs. The drop in both food and transport inflation resulted in the sharp decline of the inflation to 3.5%.

The transport inflation is mostly driven by private transport, which means the COE is again causing anomalies in the inflation readings. Other than transport inflation, there was also a sharp drop in inflation for seafood, causing the food inflation to drop.

COE prices will again wreak havoc on any inflation forecast but I am curious on the drop in food inflation. Good to take a closer look.


Anonymous said...

hi, it's ''wreak'' havoc, not ''wreck'' havoc.

chantc said...

Thanks for highlighting. Didn't notice it. :)

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

Related Posts Plugin for WordPress, Blogger...