You get deflation if your inflation rate is negative, where one dollar today buys less than one dollar tomorrow.
Singapore’s consumer prices fell the most in almost three decades last year amid very low oil prices, lackluster economic growth and the soft housing rental market.
The favorite justification of the citizens why they need a good increment at work is that inflation is running rampant.
Well with the inflation rate as it is, you guys should be satisfied with any increment at all! Of course, increment is a recognition of how much value you add to your company and if you have contributed more than you should, there are grounds for increments.
Here are the past inflation figures:
- 2015: -0.5%
- 2014: 1%
- 2013: 2.4%
- 2012: 4.6%
- 2011: 5.2%
- 2010: 2.8%
- 2008: 6.6%
- 2007: 2.1%
- 2006: 1%
- 2005: 0.5%
Annualized the inflation rate for this 11 years is 2.3%.
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