Is the CPI relevant and meaningful?

From all counts, the people affected by the high cost of living will have little faith in a CPI that does not reflect their plight. When prices of all their basic needs are shooting to the sky and the CPI said it was up by 3.6% is really a mockery and very insulting. If the CPI is spouting nonsense, it should be thrown out or replace by a more realistic and relevant ont. Can someone post the true items of the basket of goods that were used to measure the CPI here and let the people know what this CPI is all about? We would want to know the prices they used and the computation and see if this index is for real.


Anonymous said...

You are not the only one in disbelief. Just going to the wet market, NTUC or the hawker centre will tell you that things are really much, much more expensive by more than a mere 3.6%. Anyway, say no more, otherwise someone may just ask me to shut up and leave the country if I complain too much. Die die must tahan.

Anonymous said...

Inflation is a poitically senstitive matter. that's why the official CPI is deliberately kept vague.

it is highly probable there are several CPIs already computed, one for each class of people, but these are not announced for mass consumption (in fact they could even be classified as official secrets). they are probably used by the elites to determine strategic policies to govern the people.

C'mon, the govt and the fellas who compute or make use of this CPI (as announced to the public) are not dumb. there's always an underlying motive somewhere. things are not always what it appears to be....!

Anonymous said...

I notice each time people make a big fuss about the CPI not reflecting the actual situation, the figure inches upwards. There is a new figure of 4.3% for cooked food just being released. I guess we just have to believe for now.

This is just like the American Government not admitting that the sub-prime mortgage is serioue. First they tell the people it is manageable, then they say it is still under control when things get worse, then they get the ex-fed chairman to say there is a less than 50% chance of recession, then they say a recession is now possible. Why don't they just call a spade a spade.

Chua Chin Leng aka redbean said...

there is a slight difference between the ah peks chatting in the kopitiams and the bloggers chatting in the internet.

the internet is visible and is there to be read for those who want to read. so people will be concerned if unpleasant things or uncomfortable tooth are posted in the net.

just keep chatting and posting.

Anonymous said...

Just go to http://www.singstat.gov.sg/pubn/papers/economy.html#consumerprices
and read:

"Revision and Rebasing of the Consumer Price Index (Base Year 2004=100 ,Apr 2005 "

Its mostly there.What should be done is to have another basket for the lower 30% of the population.