Inflation spins - who do you believe?

[Confuseous]

To quote Minister Lim Hng Kiang when explaining in Parliament why most of us ‘lucky’ folks will not be 'directly' affected by inflation: "The two largest contributors to CPI inflation are expected to be imputed rentals on owner-occupied accommodation and car prices. Together, they will account for more than half of the inflation this year. As the majority of resident households in Singapore own their homes, they do not actually incur rental expenditure. Likewise, the majority of resident households will not be directly affected by the rise in COE premiums as new car buyers make up a small proportion of all resident households. "

What was that again? I am not versed in political speak but I think he is trying to say – "You own a house you are ok, you don’t own a car you are also ok?” Hmm, what about those who can't afford to own a house? What about the young people who are worrying if they can afford to buy their dream home in future? What about the higher cost of almost everything from food to healthcare? What about the daily bills that many are struggling to pay? And aren't Singaporean car owners citizens too?

- http://theonlinecitizen.com/2012/05...ctly-affected-by-inflation-who-do-we-believe/

 

[Fook Seng]

I just pity those who are directly affected by the inflation. The inflation they experience is not the low single digit inflation of the nation but a high double digit one.