In Singapore rents are jumping 30 per cent and petrol has passed the $4 a litre mark while in Britain soaring fuel and power costs are stopping trucks and draining pools. Even Uniqlo has raised prices in Japan.
Foreigners and anyone else in the private sector of the city-state’s two-tiered housing market are facing price increases of 30 per cent, or more, as leases come up for renewal.
Another expat, who wants to use only her first name, Michelle, is also moving. Her lease is up next month. She’s paying $S7300 a month. Her landlord knocked back her offer to renew at $S8000 and asked for $S10,000. She found another, much smaller space for $S7000. Her current apartment is on the rental market for S$11,000.“At the top end, it’s even more extreme. One of my clients is paying $S30,000 for a big property in Dempsey Hill.
Hawker stalls, the go-to for affordable meals, have been forced to increase their prices faster than the headline inflation figure. The tangible, bleeding edge of this inflation breakout is at the petrol pump. Prices have surged this week at the fastest pace since 2005. Freight Link Europe director Lesley O’Brien told the BBC the cost of running one truck was £20,000 more than last year – a 30 per cent increase.
An early-morning swimmer at Charlton Lido in London. Soaring energy costs mean heated pools may be emptied this winter.The government has stepped in, offering every household £400 to help defray the cost, with people on welfare benefits getting another £650. That’s funded by £5 billion from a new 25 per cent windfall tax on oil and gas companies’ bulging profits.
In Japan, rising prices are a shock for a population that has not experienced inflation for decades. All of a sudden, the price of everything – from electricity to petrol, beer and bowls of ramen – is increasing.Popular clothing brand Uniqlo shocked consumers this week when it announced price increases of up to 1000 yen on the price of fleece and down jackets.
While inflation is still low compared to many other developed economies, prices are still rising at their fastest pace in three decades. The problem for the central bank is that it has achieved its inflation target without being able to offset this with wages growth or economic stimulus. China’s consumer price index rose 2.1 per cent year-on-year in April. That was higher than expected but still modest, especially when lined up against the United States, where prices are rising at the fastest pace in four decades.July 4 celebrations at the White House will cost 46 per cent more this year.There are tentative signs that inflation could soon peak in the US, but it’s more a case of a runaway train braking slightly than returning to the station.
in cost over last year. Meats, including chicken, are substantially more expensive thanks to higher feed grain and transport prices and an outbreak of avian flu that has forced farmers to kill 38 million birds.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why lifting interest rates won’t address inflation - and will hit battlers hardestThe Reserve Bank’s latest interest rate decision will hurt those on the “margins”, compounding the cost of living crisis but doing little to address spiralling inflation. 7NEWS
Read more »
Cost of full tank of petrol in UK soars to staggering $175Motoring group AA described it as a “dark day” for Britain as the cost of living crisis hit the petrol pump, with prices hitting £100 ($175) for the first time.
Read more »
'It doesn't pay to be loyal': How to save money on everyday expensesRising food prices, petrol costs and interest rates mean a lot of us are finding it harder to stretch our money to cover the basics.
Read more »
Wallabies name overseas trio in squad ahead of England seriesWallabies coach Dave Rennie names his three overseas-based squad members a week ahead of naming his squad for the visit of Eddie Jones's England.
Read more »
Out-of-control inflation for Americans’ food, petrol may see Biden’s Democrats lose control of CongressThe job market is growing and unemployment is falling, but with the price of everything going up, the public simply isn’t happy.
Read more »
Wallabies call on Japan-based trio for upcoming England TestsWallabies coach Dave Rennie has chosen Japan-based backs Quade Cooper, Samu Kerevi and Marika Koroibete as his overseas-based players for the England series
Read more »