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January 3, 2008 Thursday
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Jan 3, 2008
Basic needs: Prices up far more than inflation rate
THE year 2007 was one of rising prices in all areas.

Food, clothes, property and so on all cost more nowadays. For instance, milk used to cost $1.90 per litre but now costs $3.30. Bread used to cost about $1.90 but now costs $2.30.

There are many other price increases in all aspects of life in Singapore.

The official inflation rate quoted in the media is about 4.2 per cent, which is way below actual price increases consumers are experiencing.

Will the authorities kindly explain the methodology and calculation breakdown in deciding the 4.2 per cent inflation rate?

Koo Seng Cheong

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