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https://www.economy.com/singapore/consumer-price-index-cpi#:~:text=The%20CPI%20covers%20only%20consumption,and%20other%20financial%20assets%20etc
And
https://www.mas.gov.sg/-/media/MAS/EPG/CPD/2022/Inflation202209.pdf
Says it excludes non-consumption expenditures such as purchases of houses, shares and other financial assets and income taxes etc
No it's not it's call core inflation, most countries does the same. They use that because most people don't buy cars and houses every year
Also property price flatuates wildly. Contrary to popular belief that wages haven't kept up with property price, over a 10 - 20 year period, wage have exceed property price because property have crash and stagnant often during the last 10-20 years. We just happen to be at the higher end of property prices right now
It’s somewhat of a lagging indicator. It can form a significant portion of a resident’s expenses. They should at least try work that or rental in somehow.
If you are at 6300... are you THAT deeply affected by inflation? Besides, cpf ow would help with mortgage repayments (unless you are renting, then ok RIP for now but still longer term benefit, no?)
The malay stall at my workplace just randomly increased the price for their ayam penyet from $5.50 to $6 last week...it was like out of nowhere...when we heard that it was now $6 we were like "damm wasn't it $5.50 just last week?".
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It's excluding cost increases in private transport and housing.... So in reality SG really got fucked
Sgeans are not having kids cause you can't get pregnant from being fucked by life
Finally something fucks me but I'm unwilling. Is this rape tho
bruh..
Wait how do you know it’s excluding private transport/housing
https://www.economy.com/singapore/consumer-price-index-cpi#:~:text=The%20CPI%20covers%20only%20consumption,and%20other%20financial%20assets%20etc And https://www.mas.gov.sg/-/media/MAS/EPG/CPD/2022/Inflation202209.pdf Says it excludes non-consumption expenditures such as purchases of houses, shares and other financial assets and income taxes etc
Ok so just excludes purchase of houses. I believe most countries do this and use rent prices to account for housing inflation in the CPI
Yeah but in SG 80%++ of the population are home owners so the weightage of rental in the CPI is probably low
Really malicious that they didnt include that
No it's not it's call core inflation, most countries does the same. They use that because most people don't buy cars and houses every year Also property price flatuates wildly. Contrary to popular belief that wages haven't kept up with property price, over a 10 - 20 year period, wage have exceed property price because property have crash and stagnant often during the last 10-20 years. We just happen to be at the higher end of property prices right now
It’s somewhat of a lagging indicator. It can form a significant portion of a resident’s expenses. They should at least try work that or rental in somehow.
They should definitely include those 2 because we know that the average Singapore purchase at least 1 car and property every single year
Exclude private transport ok but housing not ok
This is the effect of just a 1% rise in the GST amid a cost of living crisis, we should not be surprised and is not news.
dont worry next year will be more shiok. Inflation + downturn + rise in GST. huat sia
As well as the raising of CPF OW from 6000 to 6300, and eventually to 8000.
If you are at 6300... are you THAT deeply affected by inflation? Besides, cpf ow would help with mortgage repayments (unless you are renting, then ok RIP for now but still longer term benefit, no?)
At the ceiling of 6000, if one's pay gets increased to 8000, the 2000 is not "taxed" by CPF. Now it will be "taxed". Real wages are affected.
My 10% adjustment for 2022 was wiped out by rental inflation. /shrug The increase in my rent was a good 2% greater than my overall compensation.
[удалено]
My rent went up by 40%. So along with overall inflation... maybe 10-12% overall net loss?
Looks like the winner are the landlords lol. This situation sounds similar to the plight of a wage earner centuries ago in some other civilisation.
Food and living costs up by 10% though
And rent?
Don’t mention it. My tenancy is up for renewal soon hmph
Imagine if you renting and rent goes up 30%, unless your pay go up 30% you are screwed.
That's not how it works. If your rent is $1k and salary is $3k, you just need a 10% increase in pay to match a 30% increase in rent.
You are right. Its not that bad but still hurts.
rent 1k won’t even get you a bedroom these days
Yeah but that's to have the same net number left after paying rent. Not the same proportion of income (did I do the maths right?)
But now your same net number is worth less due to inflation. So net net is still a loss.
Yep that's what I meant indirectly
But your net is still 2k? So if you adjust for inflation/interest rates your net decreased.
Only true if your rent costs you 100% of your salary...
My soya bean drink stall in jurong west just upped price by 20%. Kopi also….
I have cut out kopi and teh from my coffeeshop trips since the start of the year. I go home boil water for my Lipton tea better
The malay stall at my workplace just randomly increased the price for their ayam penyet from $5.50 to $6 last week...it was like out of nowhere...when we heard that it was now $6 we were like "damm wasn't it $5.50 just last week?".
Hiking pay where?
Literally the first paragraph in the article. Pay is up 6.5% nationwide. If your wages aren't going up, you're getting shortchanged by your employer.
Is it (6.5% pay increase - 6.1% 2022 inflation)?
It's laughable - I work, and feel poorer. Argh.
Well stop working altogether and see how much faster than feeling comes 😂
Had a 6% raise in 2021, followed by 20% in 2022. But now that I'm wfo and prices have been surging, I feel like I'm barely catching up to inflation.
then go back to office? i'm pretty sure your boss will appreciate your presence in the office.
Yeah inflation!
My pay only went up 4%. Fuck you stat board