The Straits Times, Published on Feb 15, 2012
Excluding housing cost distorts capturing actual inflation rate
I COULD not agree more with Mr Adam Le Mesurier that as a country, we should include the cost of housing in arriving at our cost of inflation ('CPI, inflation and the elephant in the room'; Monday).
Singapore appears to be the rare country that excludes housing in the 'basket of goods' used to determine inflationary cost.
Let us not kid ourselves. Excluding such a big-ticket item distorts true inflation.
Matthew Ong
Copyright © 2011 Singapore Press Holdings. All rights reserved.
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