So a reasonable interpretation of the minister’s comments below are that the inflation numbers as far as they affect HDB residents and non-car owners are a lot of rubbish because they are not affected. So why not construct an additional index that excludes these costs? The reason that this is not done could be that then other costs have to be included, such as a great weightage for public transport costs, and the cost of public housing. And this could outweigh the costs of rentals and car ownership? Better to talk in general terms, than create a rod to break the PAPpies back?
While Singapore’s economy is headed for a slowdown, Mr Lim noted that inflation is somewhat “persistent” due to factors such as global commodity prices, “particularly fuel and oil prices”. Other causes include the Government’s domestic policies on housing and car ownership, he added.
Reiterating that core inflation is “not unusually high”, Mr Lim said: “So if you are an owner of a HDB flat, the housing prices don’t affect you, and if you are not buying a car, the car prices also don’t affect you.”
To show a better comparison between the electricity tariff and the fuel oil price, I suggest the tariff axis to range up to 35, to just cover the maximum tariff (30.45 in Oct 08). This will show the fluctuations of the electricity tariff vis-a-vis those of the fuel oil price better, graphically.
Must read: The ugly reality is that anyone in the know can present statistics so as to create the desired impression, rather than the truth. As usual, you need to know whether the source is credible and honest or not. Recommendations, double checking, second opinions and if necessary, hiring an expert, can all be helpful. One is never totally safe from this kind of falsification, but viable controls are possible. And the more you learn and are aware of the dangers, the safer you are. http://www.investopedia.com/articles/financial-theory/11/lie-with-financial-statistics.asp?partner=ntu11#axzz1fElSc8tZ