Inflation – The Silent Negative Compound Interest


Inflation in Singapore Hits 3.2%

Inflation in Singapore came in higher than expected last month, as the strong economic rebound continued to boost consumer demand and put pressure on prices to rise.

The prices of goods and services, as measured by the consumer price index, rose 3.2 per cent in May over the same month a year ago, the Singapore Department of Statistics (DOS) said in a release on Wednesday.

Car and petrol prices were the main culprit, pushing up transport costs by a hefty 15 per cent in the 12-month period.

Citigroup economist Kit Wei Zheng attributed this to tighter COE quotas this year compared with last year, which made COE premiums in May ‘two to three times higher than last year’s levels’.

Food prices also rose 1.3 per cent in the year to May while higher electricity and gas prices lifted housing costs by 1.6 per cent.

Posted in: How To Make Money on June 24th by Eumora Singapore

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