Monday, April 1, 2013

Inflation is up 4.9%

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

Transport and Housing are leading the pack, rising by 13.9% and 4.2% respectively year on year, where transport is significantly higher than January's inflation. February's inflation is significantly higher most probably due to the significant jump in the transport inflation.

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, the other basket items are holding steady.

Looks like it will be much more difficult to forecast inflation due to the cost of COE which is difficult to forecast.

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