According to mom ( http://stats.mom.gov.sg/ ) the gross monthly income from work is as follow.
The average annual increment compounding % probably roughly about 5.4%.
Going to another website on Singapore CPI, the chart as below. Roughly 2.7%. Thanks to the tapering off in 2015-2016 due mainly I believe to the property curb and low oil price. It would have hit 4%.
What this means for saver is we are able to save half of our annual increment. Perfect !
But wait .... let's look closer on CPI basket.
Notice something ? Housing and utilities constitutes only 26.3%. Didn't some guru say ~ ...
...Gross Monthly Income From Work
Median Gross Monthly Income From Work (Including Employer CPF Contributions) of Full-Time Employed Residents
Mid-Year | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 |
---|---|---|---|---|---|---|---|---|---|---|
Levels ($) | 2,449 | 2,543 | 2,897 | 2,927 | 3,000 | 3,249 | 3,480 | 3,705 | 3,770 | 3,949 |