30 August 2007

The Good News Times strikes again

The poor suffer more inflation than the rich, but you won't know this if you read a certain newspaper without examining the numbers closely. Full essay.


Anonymous said...

Sorry to nitpick, but I think your claim

"For the lowest quintile, the compounded price increase from Jan 2004 to June 2007 was 6.7%."

should be 6.5% instead.

Yawning Bread Sampler said...

It's 6.5 only if you're adding arithmetically. I was compounding it, as I said in the essay. Inflation and interest rates should be compounded when assessed over a period of years.

Anonymous said...

Hi Alex: I've been wondering for a while about the Government's reports on CPI and inflation in Singapore. Can you point me to what items are included in their index for tracking these statistics? I am constantly in a state of shock at the ridiculous figures that are released, because quite frankly they understate my experience so profoundly. Admittedly, as an ex-pat non-property owner, I would be expected to be affected by the hyper-inflation in the rental market much more than locals (105% increase over last year), yet ignoring this, the increases that I am experiencing on the back of the GST rise would indicate a personal inflation rate over last year of 10-15%. Adding in the rental increase (which accounts for 40% of my monthly spend) and the rate rockets up substantially beyond that. Only once have the traditional media touched on this reality, when they reported that Singapore had now passed NYC in terms of cost of living for ex-pats.

Anonymous said...

I thought the article on 4th university in today's ST is interesting for what it omits: no mention of SIM University or UNSW; obviously, a new university would not be needed if previous initiatives already provide enough additional places