Business
Inflation Impact on the F&B Industry
By Investment Stab  •  July 7, 2022
  1. Inflation is Real
Based on the Singapore Government statistics, food-only inflation is 4.5% in May 2022 compared to May 2021. Straits Times published an article on 21 June 2022 stating that inflation may double to 8.2% in the second half of 2022. While these numbers may be staggering, the actual numbers might actually be far worse. Because the reported numbers are what end-consumers are experiencing. But what is not reported as much is how much is being absorbed by the various importers, wholesalers, and F&B outlets. Take it from someone who has been in the wholesale food product business for the past year, and I can tell you, that prices have been increasing insanely! Recommended Read: What I Learnt During My 1-Year SGUnited Traineeship - Part 1
  1. Price Increases
Over the past year, these are the price increases we as wholesalers experienced. MSG: +47% Dried Seaweed: up 47% Dried chilli: +32% Soya bean: +31% Ee-mee: +31% Plain flour: +28% Cooking oil: +24%* Instant noodle: +23% Refined Sugar: +17% Salt: +14%...
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By Investment Stab
We are a group of Singaporean students who are curious and interested in Finance. As we dive deeper into this area in search of more knowledge, the more debates and differences we have. We also realised that financial literacy is not strongly inculcated in the younger generations, leading to numerous costly mistakes. Some of such includes believing in "high profiting" scams such as land banking and buying unnecessary investment schemes which are often motivated by the salesperson's personal interest ...
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