Tag Archives: Inflation

KOK POH KOON SAYS WATER & OTHER PRICE HIKES HAVE SMALL INFLATION IMPACT

Responding to PAP MP Zaqy Mohamad's question if the recent slew of price increases (water, electricity, transport, carpark) would impact inflation and affect Singaporeans, Minister of State for Trade and Industry Dr Koh Poh Koon said that the price increases only contribute 0.2 pp to inflation and this impact is small. Dr Koh said that against a backdrop of increase in oil prices, the main driver of price increases this year was from the electricity and other energy-linked items such as petrol or diesel.

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RETAIL WORKERS’ REAL INCOME HAS FALLEN BY 27% OVER PAST 15 YEARS

Under the Retail SMP, retailers will get support from the Government in enhancing jobs and business models. More training opportunities will also be provided for retail employees and students. The plan covers four key initiatives, starting with a business remodelling and job redesign study to identify skills and training needs for retail jobs of the future.

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HAWKER FOOD AND GROCERIES INCREASED BY 3% LAST YEAR

There has been a greater on-year increase in the prices of hawker food and groceries last year as compared to 2013, Minister of Trade and Industry Lim Hng Kiang said in parliament today. In a written reply to a parliamentary question, Mr Lim said the prices of hawker food increased 3% on-year in 2014, while it increased 1.9% on-year in 2013.

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SALARY FOR ITE GRADUATES FELL FOR 6 CONSECUTIVE YEARS?

The median gross monthly starting salary of ITE graduates in full-time permanent employment increased from $1,217 in 2007 to $1,410 in 2013. This is an increase of 15.9%. Real pay down last 6 years? Since inflation was about 24.2% from 2007 (CPI 93.2) to 2013 (CPI 115.8) – does it mean that the real increase was about minus 8.3% or about minus 1.3% per annum?

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ONLY FAILURES CANNOT UNDERSTAND THE IMPORTANCE OF CPF MINIMUM SUM

Some Singaporeans refuse and fail to see a lot of things about the CPF system. CPF was enhanced to allow Singaporeans to use them for health, housing. Now you want to go back? What do you need for retirement? Being old, you need money for health needs. You want the govt to stop raising the minimum sum? Do you know what is inflation?

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