Inflation has been a very hot topic in 2022 and 2023. I personally feel the pinch regarding food where I bought a bowl of “ban mian” previously for $2.50. Subsequently, a couple of months later, it increased to $2.80. Thereafter, $3 and now it is selling at $3.50. Of course, it is still very affordable. However, the sheer increase in price is over 40% which is pretty ridiculous. Since then, I have been very conscious of inflation around me. I am sure, many people are wondering whether the salary in Singapore is growing in line with inflation. Me too. I am curious, let’s find out today then!
Median Annual Salary (Over the past 10 years)
We have gathered the data from, MOM Labour Force 2022 report, where we summarise the Median Annual Salary over the past 10 years. Salary has increased steadily year-by-year. However, is our wages growing in line with inflation?
Inflation Rate (Over the past 10 years)
The Inflation Rate in...