Last year I passed by the same shop and it was selling mooncakes for $35. Mooncake sellers expect to make record profits this year. What has the price and profit of mooncake sales to do with anything....?
I've been watching Singapore's M3 growth very closely. M3 is the broadest measure of money and is closely related to inflation. Year-on-year growth for Jul is a whopping 23%. Look at the chart from MAS website : link. ...it is at an all time high!! Our economy is growing at about 7% and our M3 is growing at 23%. If the velocity of money is stable, growth in M3 exceeding GDP growth leads to inflation. By the time I get to 85 year old to collect the $200+ annuity, it is probably enough to buy just one mooncake - I'm now training myself to cut one mooncake into 30 pieces so that it can last for one whole month when I'm 85.
I'm going to my boss tomorrow to demand that my pay be linked to the average price of mooncakes of the the top 5 bestselling brands. That 5% pay hike he gave me earlier this year is actually a pay cut if you adjust for inflation.