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11/21/2007

Grateful to CPI numbers

Singaporeans should be grateful that the CPI only registered a 2% increase in inflation. For this number is used to increase bus fare. Looi Teck Soon from PTC has explained that the 1.8% increase in bus fare is determined by the CPI. If the CPI was higher, then the increase will be proportionately higher. Next year's CPI is likely to be 4-5%. So commuters must be mentally prepared for a similar increase in bus fares. But they could pray that the CPI number is lower. I am also praying for that. Never mind if a bowl of wantan mee is up by 20%. Just keep the CPI number low.

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