View Full Version : inflation is exaggerated?
stalingrad
25-08-11, 11:57
Many MM units have been completed and put up for rent recently. Rental per square foot for these units is very high. Does this factor into very high inflation rates reported recently.
It appears the recent spike in inflation has been mostly driven by housing costs. Does the government make adjustments for MM rentals when computing inflation rates?
Its a well known fact that inflation is pushed up because of housing cost and more recently transportation cost so I doubt allowances will be made to accommodate these figures!
devilplate
25-08-11, 12:52
Many MM units have been completed and put up for rent recently. Rental per square foot for these units is very high. Does this factor into very high inflation rates reported recently.
It appears the recent spike in inflation has been mostly driven by housing costs. Does the government make adjustments for MM rentals when computing inflation rates?
5% oredi very little lor....
If we tok about necessities like food, its definitely more den 5% p.a.:doh:
U see our ya kun have up their prices for how many times liao:banghead:
Visit foodcourts n coffeeshops, u will get to see plenty of stickers on the signboard....:hell-hath-no-fury:
The basket of consumption items is never known: http://www.singstat.gov.sg/educorner/cpi.html
Personal experience is above 10% per year in recent years. You have to look at the quality of materials, food or service you get for that $1. By the way, what inflation figure do you prefer to see? 5%? or 3%? It can be adjusted to your fancy :p
It can be adjusted to your fancy :p
That's the key, I don't believe the real figures are accurate. I too think the real figure is higher, like the food example, pay 4% more but get 5% less on the plate.
Electricity, petrol, public transport all getting higher too despite the very high SGD supposedly being high to counter inflation.
I've done the calc. but I'd like to see the oil price early of 2010 in SGD and compare to now.
thomastansb
25-08-11, 14:34
5% is a f*cking joke. Even hawker cost $4 now. From $3.50 to $4, it is a 14.3% increase. Their CPI basket is questionable. They are seriously out of touch. 5% is a joke and a slap to everyone. No wonder election lose so many %.
Petrol prices should be cheaper due to stronger SGD and lower cost compared to 2008, but it hasn't.
A study on anti-competitive behaviour of petrol retailers on MTI website is found here:
https://app.mti.gov.sg/data/article/24882/doc/ESS1Q2011__FA.pdf
I find this study flawed as it has left out the most important fact: the oil majors are vertically integrated in Singapore and they imported the crude oil in cheaper USD. The margin on final product (petrol) is only in single digit for these oil majors, simply because the margin of intermediate (light naphtha) is inflated in their internal accounting.
Not all inflation is the same...
5% is not as damaging if most due to inflating car and pte housing prices.
But 5% is due to food - then it hits everyone and relative harder on the working class. Bigger problem...
Petrol prices should be cheaper due to stronger SGD and lower cost compared to 2008, but it hasn't.
A study on anti-competitive behaviour of petrol retailers on MTI website is found here:
https://app.mti.gov.sg/data/article/24882/doc/ESS1Q2011__FA.pdf
I find this study flawed as it has left out the most important fact: the oil majors are vertically integrated in Singapore and they imported the crude oil in cheaper USD. The margin on final product (petrol) is only in single digit for these oil majors, simply because the margin of intermediate (light naphtha) is inflated in their internal accounting.
Oil prices is really very strange. When oil prices go up, pump prices go up quickly. When oil prices go down, pump prices don't go down quickly, sometimes not even going down at all? :confused: Relevant authorities cited other factors which affect pump prices but my question then is how come when oil prices go up, these 'other factors' do not slow down the increase in the pump prices as it has correspondingly slowed down its decrease? :tsk-tsk:
thomastansb
25-08-11, 15:02
To me, inflation should just be food, transport and basic necessity. Cost of car is lame because that is not basic. Might as well put in cost of plane. So stupid. 100% of the people need food. 90% need public transport. So the CPI should center on these factors. Not some lame starbucks coffee or air tickets.
To me, inflation should just be food, transport and basic necessity. Cost of car is lame because that is not basic. Might as well put in cost of plane. So stupid. 100% of the people need food. 90% need public transport. So the CPI should center on these factors. Not some lame starbucks coffee or air tickets.So you are proposing that there be two types of inflation calculations? First is the primary inflation which includes cost which affects up to 80% of population and a secondary inflation which includes less than 80% of population? :D
Petrol prices should be cheaper due to stronger SGD and lower cost compared to 2008, but it hasn't.
A study on anti-competitive behaviour of petrol retailers on MTI website is found here:
https://app.mti.gov.sg/data/article/24882/doc/ESS1Q2011__FA.pdf
I find this study flawed as it has left out the most important fact: the oil majors are vertically integrated in Singapore and they imported the crude oil in cheaper USD. The margin on final product (petrol) is only in single digit for these oil majors, simply because the margin of intermediate (light naphtha) is inflated in their internal accounting.
So using exchange rate to control inflation seems to be a total failure.
I'm sure all that's happening is importers pocket all the difference and retailers jack up the price anyway.
double lose for the consumer.
blackjack21trader
27-08-11, 12:30
The basket of consumption items is never known: http://www.singstat.gov.sg/educorner/cpi.html
Personal experience is above 10% per year in recent years. You have to look at the quality of materials, food or service you get for that $1. By the way, what inflation figure do you prefer to see? 5%? or 3%? It can be adjusted to your fancy :p
I agree. Nowadays, it appears that many electronics has "planned" failure after 3 years. I had a Korean LCD TV which failed after 3 years due to a capacitor on the TV board. Costs me only $2 from Sim Lim Tower to replace it DIY. After replacing the capacitor, it has been running for 7 years now. Quality is the key issue here.
devilplate
27-08-11, 14:21
I agree. Nowadays, it appears that many electronics has "planned" failure after 3 years. I had a Korean LCD TV which failed after 3 years due to a capacitor on the TV board. Costs me only $2 from Sim Lim Tower to replace it DIY. After replacing the capacitor, it has been running for 7 years now. Quality is the key issue here.
Any electronic product bound to have lemons....
My korean made lcd tv been running for more den 5yrs liao and nvr spoil leh:(
I wanted to replace it wif latest smart led tv leh:( :p
Just like branded cars like bmw, merc which packed lots of electronic features and gadgets nowadays.....very problematic....
I agree. Nowadays, it appears that many electronics has "planned" failure after 3 years. I had a Korean LCD TV which failed after 3 years due to a capacitor on the TV board. Costs me only $2 from Sim Lim Tower to replace it DIY. After replacing the capacitor, it has been running for 7 years now. Quality is the key issue here.
wow, you are good. how did you find out it is capacitor fault in the 1st place?
if you use tv repair, PM me that tv repair's company.
blackjack21trader
27-08-11, 17:22
wow, you are good. how did you find out it is capacitor fault in the 1st place?
if you use tv repair, PM me that tv repair's company.
Dear brother hopeful,
From here:
http://forums.anandtech.com/showthread.php?t=2033121
http://www.crovean.net/samsung-lcd-tv-power-up-problem
But be very careful with capacitors as they have stored charges in them. It is very easy to remove the capacitor and identify the faulty one by its bulging.
Just make sure you wear rubber shoes or properly earthed. Hate to waste $2000 that time on a seldom used TV for 3 years. It was like $55 every month leh !
LOL
blackjack21trader
27-08-11, 17:33
Any electronic product bound to have lemons....
My korean made lcd tv been running for more den 5yrs liao and nvr spoil leh:(
I wanted to replace it wif latest smart led tv leh:( :p
Just like branded cars like bmw, merc which packed lots of electronic features and gadgets nowadays.....very problematic....
agree, brother devilplate.
For smart TV led, make sure you get the one with the full web browser function. I just got mine last month from megastore in tampines at a bargain price: Samsung Smart TV led 42 inch 3D Smart TV model 6000 series BUT NO WEB BROWSER !! Also no 3D glasses included. ( make sure you bargain for a pair as it costs like $199 ) I think the latest model is the one with the silver frame.
And if you watch blu-ray with it, you will not regret lah- CANDIES FOR YOUR EYES !!!. ( Get latest blue-rays from Nex Shopping in Hougang, can't remember the shop name but it is on the same floor as Texas Chicken )
:)
devilplate
27-08-11, 21:52
agree, brother devilplate.
For smart TV led, make sure you get the one with the full web browser function. I just got mine last month from megastore in tampines at a bargain price: Samsung Smart TV led 42 inch 3D Smart TV model 6000 series BUT NO WEB BROWSER !! Also no 3D glasses included. ( make sure you bargain for a pair as it costs like $199 ) I think the latest model is the one with the silver frame.
And if you watch blu-ray with it, you will not regret lah- CANDIES FOR YOUR EYES !!!. ( Get latest blue-rays from Nex Shopping in Hougang, can't remember the shop name but it is on the same floor as Texas Chicken )
:)
I tot all smart tv got web browser:scared-5: tks for the tips:D
Yeah, huge diff for blurays and prices came down abit too:cheers6:
I tot all smart tv got web browser:scared-5: tks for the tips:D
Yeah, huge diff for blurays and prices came down abit too:cheers6:
how is the TV smart without a web browser??
MAS seems to be weakening SGD to prop up exports. Get ready for possible higher inflation:
http://www.xe.com/currencycharts/?from=USD&to=SGD&view=1Y
MAS seems to be weakening SGD to prop up exports. Get ready for possible higher inflation:
http://www.xe.com/currencycharts/?from=USD&to=SGD&view=1Y
I heard another theory during a kopi talk why SGD is weakening. As year end closing coming and with strong SGD, GIC and TH earning from oversea currencies will paled down. Overseas assets valuation also in play too. :cool:
Many MM units have been completed and put up for rent recently. Rental per square foot for these units is very high. Does this factor into very high inflation rates reported recently.
It appears the recent spike in inflation has been mostly driven by housing costs. Does the government make adjustments for MM rentals when computing inflation rates?
Housing, transportation, food, education, medical etc have all gone up pretty quickly over the past few years. And the effect could be worst if MAS didnt allow the S$ to appreciate.
Going forward do expect imported items to be more costly as MAS has recently intervened to allow S$ to slide as strong S$ is starting to affect our export.
Don't under estimate the impact of inflation, especially if you are planning to retire in Singapore. At 5%, price of things will double in 14 years. so even your salary double by then, you are still not getting any richer than you are today.
phantom_opera
20-09-11, 21:18
5% oredi very little lor....
If we tok about necessities like food, its definitely more den 5% p.a.:doh:
U see our ya kun have up their prices for how many times liao:banghead:
Visit foodcourts n coffeeshops, u will get to see plenty of stickers on the signboard....:hell-hath-no-fury:
ya man, diluted barley water in Ya Kun is $2.20 ... Toast Box at least only $1.90 ... :banghead:
And the kopi price has gone up so much for Ya Kun, Banquet and ToastBox, might as go Mc Cafe and drink
how about Cbox Chicken Rice index. haha
http://singaporeseen.stomp.com.sg/stomp/sgseen/got_service_or_not/762936/restaurant_charges_patron_35_for_chicken_rice_set.html
$35 for chicken rice set: Price hike due to 'overwhelming response'?
When STOMPer chickwn rice dined at a hotel restaurant recently, he was shocked when the bill came to $35 for a plate of chicken rice and a drink. They told him the price was due to 'overwhelming response', said the STOMPer.
The STOMPer elaborates (Sep 16):
"What a rip off.
"$35 dollars for a plate of chicken rice? Too expensive? Plus an iced lemon tea? God...
"I ate this at Chatterbox, Mandarin Hotel recently.
"It cost me $35, GST included.
"In June, I also had it, and it cost me $17.50.
"According to the restaurant, the price increase was due to the overwhelming response and demand for the chicken rice.
"In November last year when I had it, it was also below $20.
"It tasted like ordinary chicken rice.
"Unfortunately I did not take a picture of the receipt."
Chicken rice seller is just adding COV... it's quite normal in property market :D
http://forums.condosingapore.com/showthread.php?p=182595&highlight=COV#post182595
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