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.
2 comments:
hi, it's ''wreak'' havoc, not ''wreck'' havoc.
Thanks for highlighting. Didn't notice it. :)
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