Have you noticed any inflation in SG??? There is almost none in Malaysia b/c we have oil resources here that are still being exploited (e.g. most inputs for Ag, supply chains etc are energy costs). I thought the RM tanking would hit us BUT, for example, when you go to the supermarket, our non-tropical fruits come from Egypt, South Africa etc who's currencies have also tanked against the USD... Some restaurants and especially those in mall food courts (rents?) + FamilyMart RTE have noticeable price increases...
Thanks. Those Shadow Stats charts are fascinating. It looks like inflation is understated by about 3 percentage points?
Inflationary pressures in Singapore are incredible. Especially rents, which are probably up something like 20-30% over the past year. Probably because of inflow of people from Hong Kong, China and other countries since the borders opened up in April.
One key difference between Malaysia and Singapore is that there's so much manufacturing, so many factories in Malaysia producing goods for the domestic market. In Singapore, almost everything is imported. Food prices have stayed relatively flat, but rents, car license plates, utility bills have all gone up significantly.
Way more than that! In the USA, we have a fairly new almond orchard on my parent's property that's just entering into production. Trust me, the bills are eating me alive as EVERYTHING is going up (propane and diesel + fertilizer which requires vast amounts of energy to make - most Ag costs are directly or indirectly from energy) BUT the price of almonds and other crops for farmers is going down... And some farmers in the area are not planting row crops given the costs and price uncertainty due to supply chain problems and soon diesel shortages + strikes... You better believe we are heading for food shortages globally! And my parents say EVERYTHING else has skyrocketed in price or they shrunk the packaging....
KL etc has a condo and mall glut. Rent for my condo has not gone up in a decade and utilities get subsidized (I don't use A/C, so don't notice) + we are about to have elections... Even high end malls (KLCC and Pavilion) now have noticeable vacant space BUT they started feeling pressure when massive malls got built up in Genting (the tourists stay up there longer now).
Many things or their components-ingredients are imported here too. If you talk to supermarket and their DC people, demand planning is almost impossible in part due to all the festivals and long holidays + if they aren't importing, their suppliers are and have supply chain uncertainties. But yea, basic essentials are either subsidized or available locally (gas, cooking oil, rice, vegies from Genting etc). So local people can more or less get buy...
Have you noticed any inflation in SG??? There is almost none in Malaysia b/c we have oil resources here that are still being exploited (e.g. most inputs for Ag, supply chains etc are energy costs). I thought the RM tanking would hit us BUT, for example, when you go to the supermarket, our non-tropical fruits come from Egypt, South Africa etc who's currencies have also tanked against the USD... Some restaurants and especially those in mall food courts (rents?) + FamilyMart RTE have noticeable price increases...
Check out https://mises.org/wire/how-soviets-fixed-inflation-ruined-economy and http://www.shadowstats.com/alternate_data/inflation-charts for real USA inflation #s - easily close to 20% on what people actually need to buy...
Thanks. Those Shadow Stats charts are fascinating. It looks like inflation is understated by about 3 percentage points?
Inflationary pressures in Singapore are incredible. Especially rents, which are probably up something like 20-30% over the past year. Probably because of inflow of people from Hong Kong, China and other countries since the borders opened up in April.
One key difference between Malaysia and Singapore is that there's so much manufacturing, so many factories in Malaysia producing goods for the domestic market. In Singapore, almost everything is imported. Food prices have stayed relatively flat, but rents, car license plates, utility bills have all gone up significantly.
Way more than that! In the USA, we have a fairly new almond orchard on my parent's property that's just entering into production. Trust me, the bills are eating me alive as EVERYTHING is going up (propane and diesel + fertilizer which requires vast amounts of energy to make - most Ag costs are directly or indirectly from energy) BUT the price of almonds and other crops for farmers is going down... And some farmers in the area are not planting row crops given the costs and price uncertainty due to supply chain problems and soon diesel shortages + strikes... You better believe we are heading for food shortages globally! And my parents say EVERYTHING else has skyrocketed in price or they shrunk the packaging....
KL etc has a condo and mall glut. Rent for my condo has not gone up in a decade and utilities get subsidized (I don't use A/C, so don't notice) + we are about to have elections... Even high end malls (KLCC and Pavilion) now have noticeable vacant space BUT they started feeling pressure when massive malls got built up in Genting (the tourists stay up there longer now).
Many things or their components-ingredients are imported here too. If you talk to supermarket and their DC people, demand planning is almost impossible in part due to all the festivals and long holidays + if they aren't importing, their suppliers are and have supply chain uncertainties. But yea, basic essentials are either subsidized or available locally (gas, cooking oil, rice, vegies from Genting etc). So local people can more or less get buy...