You know how much inflation has set in when that 100 grams of streaky bacon has risen from an average of $1.80+ to $2.20+ … a meteoric rise of about 20%. Trade and Industry Minister Lim Hng Kiang commented yesterday that it was likely inflation would rise between 4 to 5% for the first quarter of next year before dipping. The last time inflation hit 5% was the year before I was born, and the last high of 4% was in 1991.

However, with even basic commodities like flour rising (resulting in more expensive bread and noodles!), and the cost of chickens (chicken is like my staple food!), I wouldn’t bet against inflation hitting those rates. Furthermore, with the price of oil set to break the US$100 per barrel anytime this week or next, nothing else would be deemed surprising anymore.