Singapore consumer price index: CPI says go make more money

CPI shows housing, transportation and healthcare biggest challenge; rising inflation

make more money

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:

Consumer Price Index

Singapore Consumer Price Index 2009 – 2012

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:

  1. Stay ignorant, stay indifferent and stay happy
  2. Wait, hope or complain to policy makers to come up with policies to address
  3. Start cutting household expenses
  4. Make more money

There really is one solution only to come out on top of the situation.

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One thought on “Singapore consumer price index: CPI says go make more money”

  1. Soh Tiong Hum says:

    Check out MAS’ animation video that explains the key inflation concepts @!

    1. What is inflation?
    2. What are the causes of inflation?
    3. What are the effects of inflation?
    4. How does MAS help to manage inflation?

    Excellent video except for 1 part I did not agree. Handphones (from 0:35) and indeed IT gadgets like personal computers are not good examples of falling prices in the context of inflation. That is because these products benefit from technological advancement. If it is not clear, the handphones we have today is an almost totally different product from the handphones available 20 years ago.

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