SG Spotlights: Singapore's core inflation rises to 10-year high in March
Singapore's core inflation rose to a 10-year high of 2.9% YoY in March, up from 2.2% in february.
The increase was driven by higher inflation for food and services. In addition to the pick up in core inflation, private transport and accommodation inflation also came in higher.
So can you guys explain what a high inflation means to us?![]()
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71518529 : I’m sure ours is higher!! Looks like we are going to continue this trend unfortunately.. Hopefully better days ahead..
71518529 : Cool name Felayt..
UNeverSleppWell : Inflation, the steady rise in the prices of goods and services over a period of time, has many effects, both good and bad. Inflation weakens purchasing power, so that we can buy fewer things with our money. But at the same time it lowers the cost of borrowing, which encourages more people to spend, stimulating the economy and creating more jobs. So there's no need to worry too much.
Revelation 6 : What inflation means to us is prices will continue to go up. Our money will buy less. It will cost more to barrow money. The ability to get credit will get tougher. This will lower demand and slow growth. It’s always hardest on the little people, but it’s also hard on businesses too. Their bottom line will tighten up, employees won’t see raises and lost employees won’t be replaced. The glut of non-discretionary spending will dry up and people begin spending saved money or reduce their standard of living. People stop buying, businesses slow down production, government gets less taxes so they raise them and the economy slows down. Exports will fall and imports will rise.
71518529 : That’s interesting.. you would think everyone would be worried about inflation?? Your paying more for everything..
71518529 UNeverSleppWell: Well if that were the case why are mortgage rates at 5% now and going up? Why is Powell and the fed raising interest rates? Everything becomes more expensive.. Inflation is a killer of the economy..
courteous Moo1 : Singapore relies on import and inflation means cost of goods from other countries will be higher. But if MAS allows exchange rate to appreciate then the impact is reduced. So I think inflation in SG will be controlled and manageable. Higher exchange rate impact exports so that is an area to watch.