For much of this year, inflation has been all we could talk about. From office workers complaining of exorbitant caifan (mixed rice) prices to policymakers raising interest rates yet again to fight inflation, it is on our minds whenever we shop, save, and invest.
Does it feel like you are getting less bang for your buck these days? You’re not alone: I find myself dreading a visit to the petrol station every time my car’s fuel gauge lights up. In August, The Straits Times reported that all fuel pump prices in Singapore have increased – Shell and Caltex raised diesel by 7 cents and petrol by 3 cents a litre – following a rise in crude oil prices globally.
Inflation, as former UK prime minister Margaret Thatcher puts it, is the unseen robber of those who have saved. But I think the definition shared by American
