Wednesday, December 26, 2007

Singapore's Inflation

With the feeling that everything has increased price over the recent past and it has been hitting various economies, especially in Asia.

Singapore, for one, has its Consumer Price Index (CPI) increased to 4.2% in November 2007, which is its highest level for the past 25 years.

Food price grew 5.2% over last year in November. Transport and communication grew 5.6%. Housing grew 2.9% and recreation grew 4.1%.

For full article, go to Bloomberg

The increase above hasn't even included the huge increase for the taxi fair since last week.

Nowadays, we see lots of cabs waiting for passengers, instead of the other way around. A lot of cab drivers have been complaining about the challenges to get customers, as customers now would try to avoid taking cab unless necessary.

Was passing by Orchard MRT at midnight on Christmas eve, and it was a surprise that not many people were at the MRT station. Does this signal the tightening of people's spending? Would this problem spiral widely?

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