It's Q2 2023. Have prices increased further?
We saw huge price increases in Q1. How's it doing now?
Last January, we shared our Millennial CPI with y’all here - our unofficial, non-government-approved list of stuff that we’ve been tracking.
And if you missed it: prices increased all around as we entered the new year, no thanks to inflation, and the 1% increase in GST.
But as we move on to Q2, prices are starting to settle. We’re serious. Check out our full list of prices here.
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If you’re living a thrifty or median lifestyle, the overall costs have actually dropped
This includes the rental rates for some HDB estates lowering. These rental rates may be an anomaly, but there could be some explanations for these:
Previous rental rates for HDBs could have just been ridiculous. (and maybe still are 🤡)
The government has announced that median waiting times for BTO projects will be lower, and fewer BTO projects are delayed.
With higher rental costs, businesses are looking to relocate their expats to reduce the costs of relocation packages. This results in lower demand for housing.
There are news reports of a Technical Recession coming around the corner; this is defined by two consecutive quarters of negative growth in a country’s GDP.
What this might mean in real terms: more layoffs, smaller pay increments and bonuses and reduced hiring budgets.
So what will the future hold?
We don’t know - we don’t have a crystal ball. But we’ll be here with the updates next quarter.
The Woke Salaryman team