Inflation highest in 20 mths

[Watchman]

Inflation highest in 20 mths
Oct 26, 2010

Sept CPI climbs 3.7%; housing and transport are main price drivers
By Robin Chan

Inflation in Singapore rose to its highest level in 20 months last month. -- PHOTO: TNP/KUA CHEE SIONG

INFLATION in Singapore rose to its highest level in 20 months last month as housing, transport and food continued to become more expensive.

Last month's consumer price index (CPI) rose 3.7 per cent from the same month a year earlier. It follows a move earlier this month by the Monetary Authority of Singapore (MAS) to tighten monetary conditions, owing to its concerns over rising costs.

The CPI came in slightly above a 3.6 per cent rise estimated by 13 economists in a survey by Bloomberg News.

Inflation rose 0.2 per cent month-on-month from August, after adjusting for seasonal factors, according to the Department of Statistics yesterday.

DBS economist Irvin Seah said: 'With overall inflation grinding steadily northward, risks are certainly tilting towards inflation rather than growth.'

Transport and housing were the main factors as higher car prices contributed a 9.1 per cent rise in transportation costs from a year ago, while housing costs rose 4.7 per cent. However, there were signs that car prices are easing, as they fell 0.2 per cent from August.

 

[Watchman]

You wonder why the fark is this keep happening since salary is not going up !

 

[Glaringly]

Isn't Singapore $ is at it's all time high against US$?

Before, it is always quoted a strong US$ as the primary factor of high inflation. And now, the US$ is at is weakest. Are they going to change their tune?

 

[halsey02]

When 'mee siam mai hum' was the Finance Minister, CPF Rates was the highest & SINgapore went into a recession & many companies moved out, for cost of doing business was too high.

They will will always tell you, min wage, asking for higher salaries will drive foreign investors out of SINgapore...you believe!

It is their macro & micro economic policies that is driving up costs...& inflation.:p

 

[Watchman]

Isn't Singapore $ is at it's all time high against US$?

Before, it is always quoted a strong US$ as the primary factor of high inflation. And now, the US$ is at is weakest. Are they going to change their tune?

We have to let our Sing dollar and let it UP at some point if not
we be floating around anyway .

We just got to preempt when to buy and sell .

 

[Watchman]

Increasing our dollar value to cause mass kill of low yield industry and low wage workers !

 

[Dreamer1]

Housing and transport are in the hands of PAP,how you push up S$ against US$,no use.

Why not try S$=US$5.00???MAS?