Singapore consumer price index: CPI says go make more money
CPI shows housing, transportation and healthcare biggest challenge; rising inflation
When I posted this picture last week in my story ‘Meet household expenses with extra income from forex trading‘ I was obviously misguided. Because based on our CPI or Consumer price index published by the Singapore Department of Statistics, our handphone bills are really the last thing to worry about. The elephant in the room are actually housing, transportation and heathcare. See this:
This table was published by the Singapore Department of Statistics. Housing, transportation and healthcare are three items that show the greatest increase based on ‘Percentage Change Over Corresponding Period of Previous Year‘ while Communication (our dear handphone bill) declined.
In addition, those three items added up to a sum in weights of (2548 + 1553 + 586)/10000 or in other words 46.87 percent. What does this mean? The trio make up half of our total expenses.
Time to make more money
In the face of rising costs such as this, there are not many options available to an individual or household but here goes:
- Stay ignorant, stay indifferent and stay happy
- Wait, hope or complain to policy makers to come up with policies to address
- Start cutting household expenses
- Make more money
There really is one solution only to come out on top of the situation.