And here’s how much money a Singapore household spends.
Singapore’s consumer prices fell for a 14th straight month, extending the longest streak of declines in almost three decades. Consumer prices fell 0.6 percent from a year earlier in December, data released in Singapore Monday showed. The median estimate in a Bloomberg News survey was for a 0.7 percent decline. Core inflation, which excludes private transport and accommodation costs, accelerated to 0.3 percent last month. Read more here.
In Singapore, the Sibor (Singapore Interbank Offer Rate) seems to be highly correlated to the US Federal Reserve Target Funds Rate. Hence, we tend to watch the US Federal Reserve to get clues on where mortgage interest rates in Singapore are heading. In August 2015, we forecasted that “at a rate of a ~0.1% drop per month, by November the unemployment rate should fall below 5% and the Fed may be tempted to raise the Fed Funds target rate by 0.25% to 0.5% as a precautionary measure.” Find out more here.
Living in Singapore is expensive. Our cost of living is comparable to some of the most expensive cities around the world. And unlike other countries; our locals do not have any cheaper rural alternative to relocate unless they intend to migrate out of Singapore. It’s not like the food and clothes are cheaper in Pasir Ris compared to Bukit Timah. So how much does it really cost for a household to live in Singapore? Read more here.
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