THE TEMASEK TIMES

News and views from an unique perspective

Singapore’s inflation rate continues to climb

Posted by temasektimes on July 23, 2012

Ordinary Singaporeans continue to suffer under the weight of rampant inflation as it rises to a shocking 5.3 per cent year-on-year in June, exceeding market expectations of a 5.1 per cent increase.

According to the Department of Statistics, housing and transport costs top the increase.

Transport cost gained 8.7 per cent last month from 2011, with the increase mainly in private road transport because of higher car prices.

Together, accommodation and private road transport costs make up some two-thirds of the CPI all items inflation in June.

However, the authorities expect inflation rate to be lower in the second half of the year, compared to the first half.

 

16 Responses to “Singapore’s inflation rate continues to climb”

  1. Ron said

    This is high especially when bank interest is 0.5%. Wage earners are seeing a faster depletion of their income and savings. There is a flow-on effect in hawker’s prices. Wages are not increasing by 5%. In fact with influx of cheaper foreign labor, income may actually drop suddenly with loss of jobs for the middle-aged and above.

  2. No Can Do said

    Do our multi-million $ PAPie ruling clique and cronies care? Do they feel the pinch as the ppl?
    Are COEs within the working middle class ppl’s financial means to buy to serve their transport needs as in the case of our hawkers and retailers, etc.?? With the continued influx of immigrants, won’t salaries of our citizens remain suppressed and fewer vacant jobs will be available for the ppl.? What countervailing measures is govt taking to ease the hardship of the pppl given the inflationary pressures? Just empty talk and hot air exhortations and calls to the rest of us to bear with the situation whilst they continue to enjoy their monstrous ministerial pay without downward revision to share equal misery with the ppl?? No can do, man, I say.

  3. Jaded said

    woooo! higher inflation with lower wages! are you happy now, daft sinkies?

  4. J said

    THIS IS BAD!!!!… And what is PAP doing to lower inflation?… just talk more cock!

    • J said

      Also lowering more wages of normal singaporeans while putting more in their own pockets!

    • Jaded said

      the PAP is aware of the situation and is doing everything to contain it but these policies need time to happen… so we got to understand the difficulties of our million dollar ministers…

      so we peasants got to suck thumb and tighten our belts while they enjoy their astronomical salaries and work it out in their ivory towers

  5. We Singaporeans said

    When higher inflation , You said higher !! , when enconomic is doing to good ! You still said higher inflation !! You said it all !! CCB !!!

  6. Dr Ken MANSUKHANI said

    Inflation rate to be lower in the second half of the year compared to the first half? Quite frankly, I don’t buy it. Period!

  7. solaris8899 said

    cannot trust papa anymore.

  8. Julie Ong said

    5.3 percent inflation rate! That’s going to hurt the long suffering poor even more with the double blow of their already low income not increasing or increasing at a slower rate.
    It was the good professor Mr Lim Chong Yah who highlighted the plight of the economically downtrodden and proposed hefty pay increases for the low income earners in order to improve their lot in life. Man with foresight and good heart I’d say. The future for the lowly paid is dire because there is no minimum wage to ensure that they can have a decent living. In fact the ex Prime Minister Mr Lee Kuan Yew argued against the minimum wage saying that jobs will be lost and we will lose our competitiveness. At the same time he was arguing black and blue for millions for senior politicians! What a man! He has certainly lost it. And the same goes on for this new batch of leaders. More for themselves, to hell for the working/struggling poor. We should band together to fight this grave social injustice.What is this First World nation when we have so many of our citizens living in rather miserable conditions? And with inflation they’ll be falling further and further behind. Swiss standard of living anyone?

  9. NaBey said

    What? Are u hinting company to give better pay rise and then f*** around produce more babies and have 6+6months leave? I think no need work better. Just open legs wide wide can already.

  10. Fed Up! said

    ITS TIME TO STOP SELLING HDBs TO PRs! SLASH HDB & COE FOR PURE CITIZENS BY AT LEAST 50%. Foreign workers can stay, at least 50% of Foreign Trash MUST BALEK KAMPONG!

  11. lolkey said

    We want pensions, CPF, salaries and savings that are indexed to inflation. Singapore will be a much better place.

    Who can deliver?

  12. Chip said

    They always say…”going forward, expect inflation rate to trend lower” etc…been saying it for few years now…one thing for sure, they have not been right!!

  13. Pai Sei said

    who will care abt the poor SGP? All de garment memers r having high salary n also so many benefits. How cld they feel the impact of inflation? No point to complain….just cast ur smart vote in next GE. Or take matters into ur own hands. Why spend ur hard earned money in SGP? Go M’sia…buy in bulk. Last Sunday Times, saying SGP buying good value houses in JB…Earned in S$, spend in Ringgit, smart right?
    btw the inflation will not go down if the COE n housing price r still high.

  14. Realist said

    Want inflation to drop ?
    Let the American economy falter.
    Let the euro crisis escalate.

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