These are the Singapore inflation rates for 2013:
January: 3.6%
February: 4.9%
March: 3.5%
April: 1.5%
I believe it is the first time since I started tracking the inflation where transport
and housing are not leading the pack. In fact, its healthcare and Education & Stationery that are leading the pack, rising by 3.4% and 2.9%
respectively year on year.
Housing and Transport only rose by 1.1% and 0.5% respectively year on year, which is a severe drop compared to previous month. As these 2 items occupy a huge part of the inflation basket, this caused a severe drop in the inflation. The other items in the inflation basket are quite stable, as expected.
As highlighted in my previous post, the COE is causing havoc on any inflation forecasts, but I'm surprised that housing was affected too, mainly on accommodation. Is it due to the softening of the housing prices last month?
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