Just came back from Giant. When I queuing up, 2 ladies were discussing price of condense milk. It seems that the Teapot brand of condense milk has gone up from $0.75 to $1.10. A few people in the sammyboy forum reported that the Milkmaid brand of condense milk has gone up from $1.10 to $1.60. The lady at Giant also told me that the pack of sugar she was buying has gone up from $0.75 to $1.40. Some ladies in the Moms4Moms forum are also reporting price increases in Milo and various necessities.
One of my colleagues, a Chinese chap, told me he is forced out by this landlord who is asking for a whopping 40% increase in rent. He sort of expected it because it has been reported in the papers that rentals have escalated. He has decided to move to some place less convenient rather than give in to the landlord...however, it turned out the landlord is more than happy to let him go because he found a couple willing to pay 50% higher than what he is currently paying.
Private property prices have escalated 25% last year and 5% more in the 1st quarter of 2007. Citibank expect prices to jump by another 30% by 2008.
Looks like our esteemed leaders are on track to reach their goal of top 1st world status...at least part of that goal . Our cost of living is escalating towards top 1st world levels fast, ...well too bad at the slow rate it is rising, our wages will probably take a long long time to get there.