Chinatown shopping for the lunar New Year. Taken on 5 Feb 16.
Inflation this year is 2%
This is the official projection. What a nice number when GST is up by 2%.
With this kind of figure, Singaporeans should breathe easier as their cost of living is only up marginally. And with say a 5% or 10% increase in income, they are actually better off than last year. And they must not forget that the increase in GST has been given back to them and they will continue to get the adjustment for a period of 5 years. Come to think of it, the 2% inflation is fully absorbed.