SG Complains

UPDATE: Singapore’s Inflation Hits 16-Year High In October

According to Company News Story:

SINGAPORE -(Dow Jones)- Singapore’s inflation reached the highest level in 16 years in October, led by surging prices of imported oil and a robust real estate market.

The consumer price index rose 3.6% from a year earlier after rising 2.7% in September, the Department of Statistics said Friday.

The rise was the fastest since August 1991 and above the 2.9% forecast by a Dow Jones Newswires poll of economists.

- Inflation is high not just Singapore alone…but Singapore imports almost everything
from natural gas, oil, and every thing else…it’s no surprise that cost will increase over time when the oil prices hikes up.

However to fully understand this inflation you have to tackle the coming energy crisis known as “peak oil” and understand why high oil prices induces hyper-inflation. We need to be mentally prepared for the event when food prices goes higher then expected.