Rising Costs

My lack of updates here can be traced to the rising costs of living in Singapore. I can hardly afford the electricity bills to run my computer…

Just kidding.

While I have yet to fall below the poverty line, I do keenly feel the rising cost of living in this cosmopolitan island state. To satiate my popiah craving nowadays means forking out an extra 10 cents. One popiah previously costs 70 cents. In real monetary terms, the rise in price is an ‘inflation’ of 14.3%.

Apart from my favourite popiah, the higher costs are also visible on my grocery bills. Ayam tuna which used to cost $1.85 are now $2, an increase of 8%.

So who are ‘they’ trying to kid when they say inflation is only “3%-5%”.

If I am already feeling the sore, not yet a pain, I am sure these price increases are hitting our less well off Singaporeans hard.

Frankly, I’d rather my pay grow slower if it translates to more bearable inflationary conditions. At current rates, my pay increases will lose its race with inflation in the coming year or so. Guess I can’t have my cake and eat it.

So, is this the price to pay to live in a first world country? If yes, then where’s the first world assistance to the poor and the aged? It’s double whammy for folks who are both old and poor.

Think charities will put in extra hours next year. But that doesn’t absolve the garmen from putting up more assistance for this group of people.

High inflation = High economic growth = High tax collections

Think that’s clear enough…

Guys, get ready to loosen the purse strings which the collection plate is handed around or when coming across the Slavation Army donation drives during the coming X’mas season. I am sure our needy folks would need some help this year.