Despite many economists predicting a modest inflation figure, I have seen signs that inflation has arrived and is running easily at 25%. The first sign, my brother’s wife bought a Ramly burger from the street market. What used to cost $2.50 has jumped to $3. A 25% increase in prices. Another sign is the fish porridge at the coffeshop near my place. Although there is no price increase, the quantity of the porridge has dropped from 2 and half bowls to 1 and half bowl. This is inflation without price increase. A third sign, is people were complaining about the popular fishball noodle at Kovan Hawker centre which hiked prices from $2.50 to $3. Lastly, Botak Jones has many feedback on forum that the quantity and quality has took a dive for the past 1 year.
Many poor people will be shortchanged by this silent tax- inflation. I m monitoring closely the situation of inflation. There are three indicators for this. One of them is the corner coffeeshop near Thomson Prata House, which sell Bak Chor Mee for $2.50, the open air coffeeshop at near Bishan Community centre and the coffeeshop above Bishan Bus interchange, both sell mixed rice at $2.50 for 2 vegetable and 1 meat.
Update u later.
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