More Price increases Coming!
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Do you know anything about the Business Cycle?Originally posted by Gazelle:China food inflation up, non-food inflation flat
BEIJING - Food prices, which make up a third of China's consumer goods basket, rose 17.6 per cent in the 12 months to October, compared with a 16.9 per cent rise in the year to September, the National Bureau of Statistics said on Tuesday.
Annual non-food inflation in October was 1.1 per cent, the same pace as in September.
The statistics office confirmed that overall consumer price inflation quickened to 6.5 per cent in October, matching a near 11-year high scaled in August.
The annual rate, up from 6.2 per cent in September, was released earlier by the official Xinhua news agency.
Economists polled by Reuters had expected an inflation rate of 6.4 per cent, although markets had been whispering for days that the outcome would be 6.5 per cent.
Inflation was last higher in December 1996, when the rate was 7.0 per cent.
Meat prices, making up about 4 per cent of the CPI basket, rose 38.3 per cent in October from a year earlier, the statistics office said. Pork was up 54.9 per cent.
Annual inflation for the first 10 months combined stood at 4.4 per cent.
Before seasonal adjustment, consumer prices rose 0.3 per cent in October from September. -- REUTERS
.........Because inflation tends to slow down in recessions and speed up in booms, policymakers cannot cure the dual problems of inflation and unemployment with the same policy tools...................
The inflation affecting China is elementary Economics, during depressions (economic contraction) inflation is low; and during boom (economic expansion) inflation is high.
The high level of inflation in China is related to their boom time economy which has been prevalent for many years, where investments keep pouring in pushing up the price levels.
The inflation could be a result of the central government's inability to control the money supply due to the influx of investments from overseas.
BEIJING - China's economic growth is expected to fall to 9.6 percent this year from 10.7 percent last year amid a mild slowdown in exports, the World Bank has said..................
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Hurray, taxi going to increase prices again. I think MRT and buses may follow them again. a cycle that repeating again.
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this is a global phenomena. -
All fruits like kiwi, strawberry has gone up by a dollar plus. milk powder has gone up too.Originally posted by dragg:even raw yong tau fu at wet market has increased price.
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high inflation in China?? this time more china ppl going to flood in SgOriginally posted by maurizio13:Do you know anything about the Business Cycle?
.........Because inflation tends to slow down in recessions and speed up in booms, policymakers cannot cure the dual problems of inflation and unemployment with the same policy tools...................
The inflation affecting China is elementary Economics, during depressions (economic contraction) inflation is low; and during boom (economic expansion) inflation is high.
The high level of inflation in China is related to their boom time economy which has been prevalent for many years, where investments keep pouring in pushing up the price levels.
The inflation could be a result of the central government's inability to control the money supply due to the influx of investments from overseas.
BEIJING - China's economic growth is expected to fall to 9.6 percent this year from 10.7 percent last year amid a mild slowdown in exports, the World Bank has said.................. 
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Originally posted by sunnytv:Hurray, taxi going to increase prices again. I think MRT and buses may follow them again. a cycle that repeating again.
Raising the fare prices might even reduce demand and further reduce their earnings.
The high ERP charges, CBD surcharge, Peak Period surcharge, are already putting a damper on demand.
I hope they increase, because I don't take taxis.
One of the solution might be to have a temporary reprieve of the fuel tax of $0.40 per litre.
With skyrocketing cost of petrol, the government should maybe reduce or remove all petrol taxes.
But then again, why would they bother to listen, because it's extra money that goes into their salaries. -
higher prices on its way. you better try to migrate out. -
no need lah... just support Dr Chee Soon Juan fully...Originally posted by Daddy!!:higher prices on its way. you better try to migrate out.
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you mean dr chee is able to lower prices?Originally posted by AndrewPKYap:no need lah... just support Dr Chee Soon Juan fully... -
I forsee another Myanmar Crisis in the making, here in SG...
... keep this up, it can be sooner than later... -
absolutely. are you already out of singapore?Originally posted by HyperFocal:I forsee another Myanmar Crisis in the making, here in SG...
... keep this up, it can be sooner than later... -
dont tell me that you are still local.Originally posted by HyperFocal:I forsee another Myanmar Crisis in the making, here in SG...
... keep this up, it can be sooner than later... -
Wonder when will the price hike go down....
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Do you agree that govt and govt linked companies are the largest employers in Singapore ?
Thats why PAP will have a landslide victorious win in the next general elections (with or without LKY).
so dont waste your time. -
Food retail prices set to rise as supplies cost more
Supply price index for food jumped 10% in October over last year
Straits Times, The (Singapore)
Money
December 3, 2007
Author: Erica Tay, Economics Correspondent
THE price of a meal out seems set to rise as food supply costs, especially for imports, soared for the second month in a row.
Many eateries have yet to pass on the higher charges to customers, but economists believe they will not be able to hold out much longer, given the severity of the cost hikes.
Official figures released last week showed that Singapore's domestic supply price index (DSPI) rose 4.9 per cent in October from a year ago, and its food component, 10.3 per cent. This followed a 10 per cent jump in September.
While its more famous cousin, the consumer price index (CPI), tracks price rises faced by end-consumers, the lesser-
known DSPI tracks the prices of goods made locally or imported that are retained for use in the domestic economy.
This means that while the increase in the price of a bowl of noodles is reflected in the CPI, increases in the prices of the ingredients - such as flour, meat and condiments - are reflected in the DSPI.
The DSPI showed prices of live animals were 24.5 per cent higher in October than a year ago; of eggs and dairy produce, 41.6 per cent; of vegetables and fruit, 5 per cent. Fish prices fell 0.5 per cent.
DBS Bank economist Irvin Seah said the new data signals that faster rises in consumer food prices are probably just around the corner.
Food makes up the largest chunk of the CPI, which is used to calculate the headline inflation rate.
The average Singapore household saw its food bill go up by 4.3 per cent in October from a year ago.
'Consumer food prices usually follow supply prices with a lag, as retailers and food sellers tend to absorb cost hikes for some time,' Mr Seah said.
United Overseas Bank economist Ho Woei Chen expects food inflation to rise, saying: 'Suppliers will eventually have to pass on higher costs.'
She said rising rents, wages and food costs will force those in the catering sector to raise prices for consumers.
Restaurateur Nicholas Pang has seen ingredients rise 20 per cent in price in the past six months.
'Pork and poultry cost 15 per cent more, and cooking oil is up by 30 per cent,' said Mr Pang, who runs three Japanese restaurants and one fast-food outlet.
Still, he has not raised his menu prices. He said: 'It doesn't make sense to up your prices every time costs increase.'
He prefers to sign forward contracts with suppliers to lock in costs, and switch to alternatives when possible.
'But if food costs keep rising, we must at some point review our prices,' he noted.
Increasingly expensive imports - particularly of meat, live animals, dairy produce and eggs - are a major factor behind higher supply prices.
Fuelling the jump in farm produce prices is a global supply crunch caused by bad weather and by a shift in farm use towards growing crops for biofuels as rising crude oil prices make biofuels more viable, explained Ms Ho.
The food portion of the import price index also rose in October, by more than 10 per cent from a year ago.
Higher food inflation is a global issue, said Standard Chartered Bank economist Alvin Liew. He said: 'Agricultural produce prices have soared in countries such as China, from which Singapore imports a great deal.'
He predicted CPI food inflation will average 4 per cent next year.
Mr Seah was more pessimistic: 'We are looking at between 5 and 6 per cent.'
Low-income groups will be hit the hardest by higher food prices as a greater chunk of their income goes to food, he added. Thus, he argued, 'policy action is needed to cushion rising food costs'.
[email protected]
Copyright, 2007, Singapore Press Holdings Limited -
soon to be foreign...Originally posted by Daddy!!:dont tell me that you are still local.
but that doesn't mean I can't comment... -
Cost of living on their minds, but help's coming
Minister pledges more money for grassroots welfare programmes
Straits Times, The (Singapore)
Prime News, Pg 1
December 3, 2007
Author: Jeremy Au Yong
IN ANOTHER sign of its increasing prominence, the rising cost of living dominated a dialogue yesterday between Simei residents and Minister for Community Development, Youth and Sports Vivian Balakrishnan.
From the first person to stand up - who asked how the Government would help the lower income deal with rising costs - questions on inflation came thick and fast.
By the end of the 11/2 hour session, nine of the 16 questions and comments were on the issue.
A resident told of self-employed drivers who had difficulty maintaining their livelihoods, and of young couples who could not afford flats.
A second wanted the goods and services tax on essential items removed; a third wanted a minimum wage scheme, while a fourth asked if the public transportation concession for senior citizens could be extended to include peak hours.
Dr Balakrishnan responded to the questions with this guarantee: 'No Singaporean will go hungry, no matter what happens with inflation.'
Inflation hit a 16-year record of 3.6 per cent in October, according to official figures, and is projected to rise further to as much as 5 per cent next year. Food prices, in particular, are set to rise further as supply prices soar.
Addressing residents' concerns, Dr Balakrishnan pointed out that external factors such as political stability in the Middle East and drought in Australia had driven up the prices of fuel and food.
What Singapore needed to do was make sure the economy grows, jobs are created and wages go up, he said. The Government is also letting the Singapore dollar strengthen to fight imported inflation.
He also intended to make more money available to the 84 Citizens' Consultative Committees, the umbrella body for constituency level grassroots organisations.
He urged these to come up with 'more innovative' schemes to help the needy, and also not to be bound strictly by technical criteria.
'If we can do it this way, we can have a system in which we don't waste and we don't promote abuse. But at the same time, we can respond flexibly and quickly to urgent needs on the ground,' he said.
He noted that a 24-hour hotline has been set up on 1800-222-0000 to tell people where and how to get financial help. It will be launched next month.
For the ordinary person, he said everyone should try to conserve resources. 'How many hours do we turn on our air-con, how far and how often do we drive our car, what kind of food you want to take - these are individual choices the Government cannot make. Don't lead a wasteful lifestyle, that is something we all can do,' he said.
The dialogue capped a busy morning for him as he toured the neighbourhood around Simei MRT station. Accompanied by East Coast GRC MP Jessica Tan, he visited a community garden, played some table soccer with residents and planted a tree.
His comments at the dialogue were well-received.
Businessman Kong Kim Soon, 53, who had asked the first question, said: 'A lot of people think the Government is not doing anything. I think it is good to have him explain to the public.'
[email protected]
'No Singaporean will go hungry, no matter what happens with inflation.'
- COMMUNITY DEVELOPMENT, YOUTH AND SPORTS MINISTER VIVIAN BALAKRISHNAN
Copyright, 2007, Singapore Press Holdings Limited -
no wonderOriginally posted by HyperFocal:soon to be foreign...
but that doesn't mean I can't comment... -
Originally posted by ^tamago^:
yeah right...
[b]Cost of living on their minds, but help's coming
Minister pledges more money for grassroots welfare programmes
Straits Times, The (Singapore)
Prime News, Pg 1
December 3, 2007
Author: Jeremy Au Yong
IN ANOTHER sign of its increasing prominence, the rising cost of living dominated a dialogue yesterday between Simei residents and Minister for Community Development, Youth and Sports Vivian Balakrishnan.
From the first person to stand up - who asked how the Government would help the lower income deal with rising costs - questions on inflation came thick and fast.
By the end of the 11/2 hour session, nine of the 16 questions and comments were on the issue.
A resident told of self-employed drivers who had difficulty maintaining their livelihoods, and of young couples who could not afford flats.
A second wanted the goods and services tax on essential items removed; a third wanted a minimum wage scheme, while a fourth asked if the public transportation concession for senior citizens could be extended to include peak hours.
Dr Balakrishnan responded to the questions with this guarantee: 'No Singaporean will go hungry, no matter what happens with inflation.'
Inflation hit a 16-year record of 3.6 per cent in October, according to official figures, and is projected to rise further to as much as 5 per cent next year. Food prices, in particular, are set to rise further as supply prices soar.
Addressing residents' concerns, Dr Balakrishnan pointed out that external factors such as political stability in the Middle East and drought in Australia had driven up the prices of fuel and food.
What Singapore needed to do was make sure the economy grows, jobs are created and wages go up, he said. The Government is also letting the Singapore dollar strengthen to fight imported inflation.
He also intended to make more money available to the 84 Citizens' Consultative Committees, the umbrella body for constituency level grassroots organisations.
He urged these to come up with 'more innovative' schemes to help the needy, and also not to be bound strictly by technical criteria.
'If we can do it this way, we can have a system in which we don't waste and we don't promote abuse. But at the same time, we can respond flexibly and quickly to urgent needs on the ground,' he said.
He noted that a 24-hour hotline has been set up on 1800-222-0000 to tell people where and how to get financial help. It will be launched next month.
For the ordinary person, he said everyone should try to conserve resources. 'How many hours do we turn on our air-con, how far and how often do we drive our car, what kind of food you want to take - these are individual choices the Government cannot make. Don't lead a wasteful lifestyle, that is something we all can do,' he said.
The dialogue capped a busy morning for him as he toured the neighbourhood around Simei MRT station. Accompanied by East Coast GRC MP Jessica Tan, he visited a community garden, played some table soccer with residents and planted a tree.
His comments at the dialogue were well-received.
Businessman Kong Kim Soon, 53, who had asked the first question, said: 'A lot of people think the Government is not doing anything. I think it is good to have him explain to the public.'
[email protected]
'No Singaporean will go hungry, no matter what happens with inflation.'
- COMMUNITY DEVELOPMENT, YOUTH AND SPORTS MINISTER VIVIAN BALAKRISHNAN
Copyright, 2007, Singapore Press Holdings Limited[/b]
... a glass of water to go towards puting out a forest fire... great....
very helpful & effective indeed....
sure our economy is growing (growing the government's pockets that is ) & that lots of jobs are created.. yeah right, and still there people who can't feed themselves.... right right right....
sounds like eating from his ass & crapping through his mouth...! -
With the cost of living increase so fast and so much. In future, Singaporean going to be like living hell.
Gahmen never need to worry. They can increase prices of their services or salary to cover up. Let their family work in the "company", more income. Better still increase GST and say more help is needed. That why they increase salary and GST, they know cost of living will increases.
They will never ever know the public suffering. The double holiday is coming soon, more prices increases, unless you have a fat bonus or you don't celebrate this holiday. -
continue wonderingOriginally posted by caleb_chiang:Wonder when will the price hike go down.... -
For the ordinary person, he said everyone should try to conserve resources. 'How many hours do we turn on our air-con, how far and how often do we drive our car, what kind of food you want to take - these are individual choices the Government cannot make. Don't lead a wasteful lifestyle, that is something we all can do,' he said.Originally posted by sunnytv:With the cost of living increase so fast and so much. In future, Singaporean going to be like living hell.
Gahmen never need to worry. They can increase prices of their services or salary to cover up. Let their family work in the "company", more income. Better still increase GST and say more help is needed. That why they increase salary and GST, they know cost of living will increases.
They will never ever know the public suffering. The double holiday is coming soon, more prices increases, unless you have a fat bonus or you don't celebrate this holiday.
He say dont lead a wasteful lifestyle.....
still want to celebrate the holiday... -
I think the poor don't have air-con, car and eating canned and leftover foods. And they don't lead a wasteful life. But did their life get any better. From the the look of it, it become worst due to cost of living increasing.Originally posted by tzr79:For the ordinary person, he said everyone should try to conserve resources. 'How many hours do we turn on our air-con, how far and how often do we drive our car, what kind of food you want to take - these are individual choices the Government cannot make. Don't lead a wasteful lifestyle, that is something we all can do,' he said.
He say dont lead a wasteful lifestyle.....
still want to celebrate the holiday... -
I think what they imply is that the poor, should live off bread & water...
... however, you will have noted in recent months that both water & bread has increased in cost as well, & will be further increased next year of 2008...
so what is the poor to eat? Grass with drain-water?
A country as small as ours, Singapore, how FAR can one drive if one owns a car? If all average-incomers are to be restricted to so much & ever increasing lifestyle limitations, what kind of Quality Life is Singapore's government offering the people of Singapore while they, reap Millions in salaries???
Do you think what they say & what they are doing, is justifiable???
... they ought to crumple that article up & stuff it into their mouth!!! -
The poor should eat air, dig sweet potatoes if any left with watery porridge and drink collected rainwater.