7/11/2007

Why are prices higher?

Lilian Lee Pei Lin went to Shop N Saves and found that all the prices are higher than it used to be. And there are many signboards shouting loudly that the store is absorbing the 2% GST increases. A pack of eggs used to be $4. Now it is $4.08. Anyone needs a calculator? Wondering why is she asking 'Why are prices higher?' It will be more fun is Shop N Save puts up another sign saying 'It is good for you.'

24 comments:

Abao said...

Remember that SNS only say they absorb "housebrands" for 6 months. All other goods are subjected to the rise... ...

redbean said...

like that ah! the eggs already up 2%. after 6 mths another 2% for GST! chiat lat man.

Anonymous said...

Do the shops suffer? Definitely not. The ultimate sufferers are the consumers. For the shopowners this increase in GST is a blessing in disguise. They are making much more than the GST increase.The ultimate gainer is the Government, be it increases due to GST, higher rentals etc.

TuraiKiller said...

Ham Restrurant, fish porridge from S$3.80 rised to S$ 4.50 aroung 20% instead of 2%.
There r more to complain......

Anonymous said...

And CASE is sitting pretty, waiting for consumers to complain before they stir. And I understand you need to join as a member to bring things up to them. Correct me if I am wrong.

redbean said...

gst is to help the poorer population. now i am starting to get a little nervy how long my $290 pm can last.

Anonymous said...

small example of the price increases we are seeing;

2 years ago tank of mobil gas = $23
today = $27
increase = 17%

or 8%per annum????

Anonymous said...

chrysantheum tea premium grade;

2 mths ago = 3.80
today = 6.80

increased abt 40% PER MONTH

dont worry LAH

redbean said...

i know this guy. he is very unhappy. his property price gone up only 20%. he has an unrealised profit of $200k! cursing and swearing.

what a world!

Anonymous said...

But the controlled items; sugar, rice, salt, flour never increase what? so where got inflation??

Anonymous said...

But the controlled items; sugar, rice, salt, flour never increase what? so where got inflation??

Anonymous said...

The problem is the uncontrolled increases, like eating at hawker centres, food items from the wet market,soft drinks, coffee etc. You cannot just eat rice with sugar & salt.

redbean said...

there are so many miscellaneous things to buy. if everything increases a bit, quite affordable. but added together, to those that have to count every cent, it can be unbearable.

life at that level is very miserable.

Matilah_Singapura said...

2 reasons (both inter connected)

1 Inflation of the (fiat) money supply — mostly by credit — banks lending frenzy for stocks and real estate.

2 Increase in energy prices — oil mostly. Several reasons, some are: war, hurricane Katrina, China and India buying and offering premium prices

On the horizon (not so distant future):

* More (US) inflation due to on-going war

* Increase in govt spending (therefore higher taxes, more govt debt and definitely more INFLATION by govt) due to increased security concerns (from the war) and aging Baby Boomer generation.

Since taxes and govt deficits are unpopular with voters, govts are likely to INFLATE the money supply by PRINTING what they need to finance the aging baby boomers. This will drive prices up even further, and increasingly scarce goods like OIL will experience even FASTER price rises than other (less scarce and in-demand) goods.

Welcome to the future. I hope you are all RICH, or know how to "make money" during a global financial crisis.

If you need me, I'll be on the beach :)

Anonymous said...

Oops there goes my golden dreams..

Anonymous said...

ļ¼·asting talent on the beach? Sigh.. :(

Anonymous said...

potential minister of finance...sigh....

Anonymous said...

Shop N Save boh pian, kenna pressured by the likes of Sheng Shiong and NTUC... quite torok I can see!

redbean said...

this is the wayward unorthodox financial wizard of oz.

life is getting better.

Anonymous said...

Wasting talent and seed and talk on the beach?
S
i
g
h
...

Anonymous said...

he's working hard to spread our kingdom to all corners of the world..

redbean said...

matilah is having a good life. his full time preoccupation is drinking and mating. when he gets bored he will find some work to do.

now that is life isn't it?

Lost4ever said...

Most of u will forget these issues 3 months from now, some new issues will surface to attract your attention..

The day when your SGD become banana money, then you may recall that you have put the wrong man up there.

May GOD bless the 90% with lots of banana money when they need it.

Anonymous said...

first it was peanuts money now banana money, and we are?