Goh Meng Seng said:

When the people on the street are suffering from high inflation and requested PAP government to do something about it, PAP government has just brush it off by simply saying, " Its market forces". However, if PAP really believes in "market forces", then they should let the market determine the prices of petrol and diesel, without imposing hefty taxes on them. While places like Hong Kong has started to waive diesel tax to reduce fuel-induced inflation to all products and services, PAP has refused to do so.

However, when it comes to wages, PAP does not see it as inappropriate to intervene to suppress wages by making remarks like "pay rise will increase inflation"! When PAP critics are pressuring them to do something about the high inflation, they brush it off by saying the inflation is "imported" and they could hardly do anything to it (in fact, there are things they could do like waiving diesel tax). But when it comes to bargaining for wage increase for workers so that they could cope with rising cost of living, they turn around and say this will be a source of inflation!

Ironically, PAP ministers themselves have just increased their own pay by double digits but now, they see it inappropriate for workers to have their pay increase!

Recommended by at82: "Pay rise for THEM is to attract and retain talents, Pay rise for US is to create inflation. GREAT."

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Al Jazeera said:

Al Jazeera reports on the soaring food prices in Singapore and how Singaporeans are coping.

In the report, one lady, who lived in a one-room HDB flat, said she was given $30 when she asked her Member of Parliament for help. “The extra cash can be used to pay for the children’s expenses. Obviously, it’s not enough,” she said.

Recommended by at82: "Nobody will be left behind. So don't be a Nobody, be an Elite."

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Mr Wang said:

Instead of saying that “switching to cheaper products can reduce the cost of living”, Minister Lim would have been more accurate to say, “switching to cheaper products can lower the standard of living”. For example, instead of living in a 5-room HDB flat, you can live in a 1-room HDB flat (a cheaper product). Instead of having chicken rice and vegetables for lunch, you can just eat plain porridge (a cheaper product).

Living in a 1-room HDB flat and eating plain porridge constitutes a lower standard of living. So yes, by switching to cheaper products, you can lower your standard of living. And a lower standard of living does cost less to maintain.

In summary, what is Minister Lim's advice to you? To deal with inflation, lower your standard of living.

Recommended by at82: "What happened to Swiss Standard of Living and More Good Years?
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littlespeck said:

Inflation is at its worst here in 12 years and has become the people’s biggest worry today. For many, the high costs are blurring the Singapore Dream.

Worst affected is the broad middle class, which is already paying dearly for the high oil price and a punishing five-to-seven per cent rise in the Goods and Services Tax (GST).

Since the beginning of the year, a wide range of products and services – including housing, hospital and medical care, education, electricity – has been skyrocketing.

Hardly a week passes without an announcement or two of some price or government fee going up.

There are two immediate effects. The value of money is dropping by the week, and savings are discouraged since consumer prices are rising faster than interest the banks pay on deposits

Recommended by at82: "Widespread price increases overshadow Singapore’s prosperity in the last four years."

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Yawning Bread said:

Four seconds later, you reel in shock. What is the most striking thing about the figures? That for three-and-a-half years the poorer households have suffered inflation far more than the average and the rich.

For the lowest quintile, the compounded price increase from Jan 2004 to June 2007 was 6.7%. On the other hand, for the highest quintile, compounded price increases amounted to 1.3% over the same period. ...

You would think, wouldn't you, that a more appropriate headline and lead sentence would be something like "Bottom income groups suffer markedly more inflation than top ones"? Because really, that's what the table as a whole shows, doesn't it?

Recommended by at82: "The Good News Times strikes again."

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International Herald Tribune reported:

Consumer prices in Singapore gained 0.4 percent in April over the year-earlier period as the cost of food and education rose, according to government data released Tuesday.

The gain in the Department of Statistics' Consumer Price index compares with a 0.4 percent increase in March. Consumer prices rose 0.6 percent in April from March as the cost of food, transport and housing gained.

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