So 2010 inflation was at 2.8%, and this year the government estimates it to be at 4%.<\/p>\n
I’m actually wondering how these figures came about. (JJ, I know you’re reading this. Please enlighten – you can leave a private comment if you want.)<\/p>\n
Are property prices part of the index used to calculate inflation in Singapore? How about vehicle prices? How about the fact that CPF has raised it’s maximum monthly cap to $5,000 and increased employer contribution by 0.5%?<\/p>\n
My estimate is that inflation has in fact risen a good 5%-8% in 2010 and will be much higher in 2011.<\/p>\n
If you compare Singapore and maybe New Zealand which has similar inflation rates, the interest rates in Singapore are at a pathetic 0.06%. The interest rates in countries like Australia and New Zealand are at 3-4% – at least close to that of inflation. Even USA with an inflation rate of 1.6% in 2010 has an interest rate of 0.25% – four times that of Singapore.<\/p>\n
What this means is that money my bank is shrinking 3.94% every year. Forget it, make that 4%.<\/p>\n
So on top of putting up in an overcrowded nation and dealing with my noisy neighbours, my savings are actually shrinking. For every $10,000, that’s $400. Wow.<\/p>\n
If I don’t want risks and want my money to grow or at least catch up with inflation, what do I do with it?<\/p>\n
References: So 2010 inflation was at 2.8%, and this year the government estimates it to be at 4%. I’m actually wondering how these figures came about. (JJ, I know you’re reading this. Please enlighten – you can leave a private comment… Continue Reading →<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[262,182],"tags":[261,263],"class_list":["post-1163","post","type-post","status-publish","format-standard","hentry","category-finance","category-politics","tag-inflation","tag-interest-rates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tzlee.com\/blog\/wp-json\/wp\/v2\/posts\/1163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tzlee.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tzlee.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tzlee.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/tzlee.com\/blog\/wp-json\/wp\/v2\/comments?post=1163"}],"version-history":[{"count":12,"href":"https:\/\/tzlee.com\/blog\/wp-json\/wp\/v2\/posts\/1163\/revisions"}],"predecessor-version":[{"id":1175,"href":"https:\/\/tzlee.com\/blog\/wp-json\/wp\/v2\/posts\/1163\/revisions\/1175"}],"wp:attachment":[{"href":"https:\/\/tzlee.com\/blog\/wp-json\/wp\/v2\/media?parent=1163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tzlee.com\/blog\/wp-json\/wp\/v2\/categories?post=1163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tzlee.com\/blog\/wp-json\/wp\/v2\/tags?post=1163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nhttp:\/\/www.rttnews.com\/Content\/AsianEconomicNews.aspx?Node=B2&Id=1571224<\/a>
\nhttp:\/\/www.tradingeconomics.com\/Economics\/Stock-Market.aspx?Symbol=SGY<\/a>
\nhttp:\/\/www.tradingeconomics.com\/Economics\/Stock-Market.aspx?Symbol=NZD<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"