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Committee Against GST Profiteering says price changes moderate

According to Yahoo!Singapore News:

SINGAPORE : Price changes since last November’s announcement of the GST increase has been generally moderate, according to the Committee Against GST Profiteering (CAP).

It said that since last November to May this year, the Consumer Price Index went up by 0.5 percent.

Food prices, however, went down by 0.3 percent during the first five months of this year.

Likewise, prices of non-cooked food went down by 1 percent on average.

The biggest decrease was in sugar, which saw prices drop 12 percent.

But there were price hikes in this group too.

Items that saw the biggest increase were cooking oils, non-alcoholic beverages and dairy products, which rose 3 percent.

As for cooked food in restaurants or hawker centres, prices increased marginally by 0.3 percent since the start of 2007.

A survey on hawker food conducted last month also found that fewer than 1 percent of stalls had increased prices.

The committee said it is encouraged by the findings and believes competition will continue to keep prices of hawker food stable.

It is also encouraging consumers to shop wisely and exercise their choice when making purchases, such as opting for lower cost house brands at supermarkets.

As for merchants, the committee said it has advised them not to take advantage of the GST hike to raise prices.

- Comments please!

Categories: Others
  • http://blogscapes.wordpress.com/ blogscapes
    I find it hard to believe if shops say they are not increasing prices by more than 2%. Already, cases have been reported about how prices are coming up in absolute terms, eg 10 cents, 20 cents, etc than in % terms ie the 2%.

    And while we have the GST off set package, I wonder how long that will last in the face of increasing costs all round.
  • http://blogscapes.wordpress.com/ blogscapes
    I find it hard to believe if shops say they are not increasing prices by more than 2%. Already, cases have been reported about how prices are coming up in absolute terms, eg 10 cents, 20 cents, etc than in % terms ie the 2%.

    And while we have the GST off set package, I wonder how long that will last in the face of increasing costs all round.
  • http://simontay78.wordpress.com/ simontay78
    There are cases that shops uses the current GST hike to inflate their profits yet there are also cases that it’s also due to higher rental, utilities, Nets fees, import cost, manpower cost.

    The current situation can be view as a compounded effect, if we see the GST hike will affect workers ability to spend money to survive…people naturally demand more pay hence the higher manpower cost.

    Rental & Utilities are self explanatory as what most people will say is due to higher demand and better growth in the market. (Property & Natural Gas prices goes up if you did not notice)

    So, let’s analyze the situation…

    1. GST, Nets, Starhub SCV, all increased prices including some of the smaller hawkers that read the news….
    2. People demand more pay, higher salary hike
    3. Property prices goes red hot
    4. Rental goes up as well
    5. Stocks goes up as well
    6. More rich people and MORE POOR PEOPLE

    Ok, If we don’t do something to earn more money…and unable to raise our own salary…then “Huston, we have a problem”
  • http://simontay78.wordpress.com/ simontay78
    There are cases that shops uses the current GST hike to inflate their profits yet there are also cases that it’s also due to higher rental, utilities, Nets fees, import cost, manpower cost.

    The current situation can be view as a compounded effect, if we see the GST hike will affect workers ability to spend money to survive…people naturally demand more pay hence the higher manpower cost.

    Rental & Utilities are self explanatory as what most people will say is due to higher demand and better growth in the market. (Property & Natural Gas prices goes up if you did not notice)

    So, let’s analyze the situation…

    1. GST, Nets, Starhub SCV, all increased prices including some of the smaller hawkers that read the news….
    2. People demand more pay, higher salary hike
    3. Property prices goes red hot
    4. Rental goes up as well
    5. Stocks goes up as well
    6. More rich people and MORE POOR PEOPLE

    Ok, If we don’t do something to earn more money…and unable to raise our own salary…then “Huston, we have a problem”
  • Jimmy
    Yeah, let’s make a movie about the lower income group Singaporeans struggling to keep up with the high standard of living in Singapore ! Any idea !
  • Jimmy
    Yeah, let’s make a movie about the lower income group Singaporeans struggling to keep up with the high standard of living in Singapore ! Any idea !
  • http://simontay78.wordpress.com/ simontay78
    Hey, that’s a great superb idea!

    Let’s make a documentary movie about the daily lives of the low income group. The non-fiction story with fictional actors.

    The problem is not much Singaporean are willing to share their experiences because of losing “face”.

    However, knowing the real story about how Anorld came to USA with just $20 in his pocket to become Mr Universe and now the Governor of California just because he’s Strong Desire and Hunger to be THE BEST.

    If you, the reader out there feel that you are having some trouble with your life and have problem understanding what is the ultimate goal of being successful…or simply just feeling mediocal and struggling just to survive hand to mouth…do take a moment to reflect on ourselves.

    If you are pursuing a career, are you doing it just to survive or be the BEST! If you know you are just doing it for survival then it’s no point doing it…if you started it either you do your best or QUIT, do something you can be THE BEST.

    Everyone can be the BEST in something in their own field, but being the BEST in their own comfort zone is not enough, BEING BEST IN THE WORLD is better.

    The “Long Tail” theory or the “Short Head” of the graph comparing the best and the rest is significant. Either be the BEST or be like the rest of the non-performing ones.

    Everyone! Those who have problems…share your plight and then CHANGE! If you have problems, speak it out and we shall think of solutions together!
  • http://simontay78.wordpress.com/ simontay78
    Hey, that’s a great superb idea!

    Let’s make a documentary movie about the daily lives of the low income group. The non-fiction story with fictional actors.

    The problem is not much Singaporean are willing to share their experiences because of losing “face”.

    However, knowing the real story about how Anorld came to USA with just $20 in his pocket to become Mr Universe and now the Governor of California just because he’s Strong Desire and Hunger to be THE BEST.

    If you, the reader out there feel that you are having some trouble with your life and have problem understanding what is the ultimate goal of being successful…or simply just feeling mediocal and struggling just to survive hand to mouth…do take a moment to reflect on ourselves.

    If you are pursuing a career, are you doing it just to survive or be the BEST! If you know you are just doing it for survival then it’s no point doing it…if you started it either you do your best or QUIT, do something you can be THE BEST.

    Everyone can be the BEST in something in their own field, but being the BEST in their own comfort zone is not enough, BEING BEST IN THE WORLD is better.

    The “Long Tail” theory or the “Short Head” of the graph comparing the best and the rest is significant. Either be the BEST or be like the rest of the non-performing ones.

    Everyone! Those who have problems…share your plight and then CHANGE! If you have problems, speak it out and we shall think of solutions together!
  • Kim
    How do you know if you are the BEST out there ? There is always someone better than you out there. Make a movie? I don’ think you guys are serious about it, don’t be a NATO ! No Action Talk Only !
  • Kim
    How do you know if you are the BEST out there ? There is always someone better than you out there. Make a movie? I don’ think you guys are serious about it, don’t be a NATO ! No Action Talk Only !
  • http://simontay78.wordpress.com/ simontay78
    Thanks for the encouragement Kim :)
  • http://simontay78.wordpress.com/ simontay78
    Thanks for the encouragement Kim :)
  • Jimmy
    You don’t call that an encourgaement Simon ! That is pouring cold water on us !
  • Jimmy
    You don’t call that an encourgaement Simon ! That is pouring cold water on us !
  • http://simontay78.wordpress.com/ simontay78
    I realized that Kim is really doing is to complain about life but in a different way of expression :)

    But The harsh reality is sometimes true, we might not be the best and we might never know what kind of things that we can be the best in the world….if we never try.

    I think we should do something about the words we say, and really do it.

    Jimmy, let’s do the movie…how? Anyone got a spare digital video cam-recorder to spare? 2nd hand? Let’s not be NATO :)
  • http://simontay78.wordpress.com/ simontay78
    I realized that Kim is really doing is to complain about life but in a different way of expression :)

    But The harsh reality is sometimes true, we might not be the best and we might never know what kind of things that we can be the best in the world….if we never try.

    I think we should do something about the words we say, and really do it.

    Jimmy, let’s do the movie…how? Anyone got a spare digital video cam-recorder to spare? 2nd hand? Let’s not be NATO :)
  • Jimmy
    I don’t have a digital camera right now. How much is it to get 1 ?

    Which brand is better ?
  • Jimmy
    I don’t have a digital camera right now. How much is it to get 1 ?

    Which brand is better ?
  • Dick
    Kim, you are not welcome here, please go away. This blog is not suitable fore you.
  • Dick
    Kim, you are not welcome here, please go away. This blog is not suitable fore you.
  • http://simontay78.wordpress.com/ simontay78
    Maybe a simple one will do…jimmy…hmmm how about that Nokia phone that can film video? :)

    Cheers!
  • http://simontay78.wordpress.com/ simontay78
    Maybe a simple one will do…jimmy…hmmm how about that Nokia phone that can film video? :)

    Cheers!
  • Kim
    What’s your problem Dick ? You don’t own this blog so just shut up and go away.
  • Kim
    What’s your problem Dick ? You don’t own this blog so just shut up and go away.
  • http://simontay78.wordpress.com/ simontay78
    Kim & Dick

    Yo, don’t be angry.
    The world will always be balanced…with both forces…let’s learn to be good.
    Luke, feel the force Luke!
  • http://simontay78.wordpress.com/ simontay78
    Kim & Dick

    Yo, don’t be angry.
    The world will always be balanced…with both forces…let’s learn to be good.
    Luke, feel the force Luke!
  • Jimmy
    Peace guys ! Is just a blog.
  • Jimmy
    Peace guys ! Is just a blog.
  • http://simontay78.wordpress.com/ simontay78
    I just surveyed the SIM LIM, there is one cheap one at $420 Brand Aosta DV680 don’t know if it’s a chop head price. Free 1 battery and 1 GB SD Card. Can TV in/out. 10 Mega Pixel. Each battery last about 2 hours.

    Not much high end type but I feel the store owner trying to cut my head so I didn’t buy immediately.
  • http://simontay78.wordpress.com/ simontay78
    I just surveyed the SIM LIM, there is one cheap one at $420 Brand Aosta DV680 don’t know if it’s a chop head price. Free 1 battery and 1 GB SD Card. Can TV in/out. 10 Mega Pixel. Each battery last about 2 hours.

    Not much high end type but I feel the store owner trying to cut my head so I didn’t buy immediately.
  • Jimmy
    I don’t even hear of this brand before. I think is chop head price for sure. How can it be $420 ?
  • Jimmy
    I don’t even hear of this brand before. I think is chop head price for sure. How can it be $420 ?
  • Kim
    Aosta is a taiwan brand. Dv680 is mini pocket size digital camcorder, 8 in 1 function. Don’t be fool by the 10 M pixels, 10M pixels is Interpolated. DV680 is actually only 6M pixels. $420 is a bit steep. I rather get a Sony or Panasonic one with that price.
  • Kim
    Aosta is a taiwan brand. Dv680 is mini pocket size digital camcorder, 8 in 1 function. Don’t be fool by the 10 M pixels, 10M pixels is Interpolated. DV680 is actually only 6M pixels. $420 is a bit steep. I rather get a Sony or Panasonic one with that price.
  • http://simontay78.wordpress.com/ simontay78
    Wow, thanks for the review!! No wonder that shop keeper is looking suspiciously anxious to sell that brand…ha ha

    Some more want to give freebies and stuff to make me buy on the spot! Haha…lucky I escape using excuses that the money not with me…but with my friend’s side! :)
  • http://simontay78.wordpress.com/ simontay78
    Wow, thanks for the review!! No wonder that shop keeper is looking suspiciously anxious to sell that brand…ha ha

    Some more want to give freebies and stuff to make me buy on the spot! Haha…lucky I escape using excuses that the money not with me…but with my friend’s side! :)
  • Jimmy
    Good on you mate ! I thought the shop keeper will get violent when you reject him, haha !
  • Jimmy
    Good on you mate ! I thought the shop keeper will get violent when you reject him, haha !