Let me recap what had increased in price in 2007. This list is only a handful that I can remember.
1) Milk powder and bread prices rose nearly 20%.
2) Govt raise ERP ranging from $1.50 to $5.00 in worst hit area.
3) Medical Cost increased ranging from 10% to 30%.
4) Electricity Tariff rose 9% in 2nd quarter and 4% in 3rd Quarter
5) Cigarette price rose 40cents for a 20 stick pack, translating to 3.6%
6) Bus and MRT rose by another 1 to 3cents.
7) University fees rose by up to 10%
8) Postage increased from 23 cents to 25 cents, translating to 8%
9) Property prices rose to an extent that genuine buyers cannot buy anymore
10) Cable TV prices increased, etc etc...
11) Worst of all, I have not even add the extra 2% GST increase and GST may be increased to 10% in the near future.
Why everything is rising? AND MY SALARY NOT INCREASED??? The lower and middle income group are badly affected. This group will feel the pinch more than the higher income people who gained big time in property and enbloc sales. Somemore, prices of LCDs, high end Digital Cameras, Laptops prices, etc dropped.
Inflation is expected to hit 5% next year. It should be more if not for our strong Singapore Dollar. How can inflation be just 5%??? Anyway, I'll write about inflation in my next article.
5 comments:
So come election time you know what to do lah..
Sometimes don't even have a chance.
Adrian, we should compare ourselves with Swiss standard of living. The tax there are even higher. So you know lah, when we reach swiss standard, our salary all will go to tax.
Swiss are facing same problem as us. That is low birth rate because all cannot afford.
This is selective comparison.
Whenever we compare how expensive things in Singapore are, our govt will use countries like UK, USA, etc. to show how cheap we are.
Whenever we compare how cheap things are, they use countries like India and China to show how expensive we are.
So what must you do for your customers? tell them don't buy endowment or whole life or you don't sell them. I know u are in a delima . it is either inflation for u or the clients, right?
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