October 2024 brought notable changes to Singapore’s economic landscape, with inflation rates dropping while consumer products see price increases. From governmental shifts to cultural happenings, here’s what you need to know!
Inflation Rates on the Decline
According to recent reports, Singapore’s core inflation eased to 2.1% in October, marking the lowest rate in nearly three years. This change comes after two consecutive months of rising prices, providing some relief to citizens navigating the cost of living.
Scam Victim Loses $330,000
In a worrying trend, another local woman handed over $330,000 to scammers, disregarding warnings from both her bank and the police. Despite receiving sound advice, her determination to send money to an online friend proved costly.
Mixue Raises Ice Cream Prices
- After gaining popularity for its $1 Signature KingCone since its launch in 2022, Mixue has announced a price increase.
- The increase is attributed to rising costs, highlighting the broader challenges businesses face in today’s economy.
Local Automotive Innovation: Hyundai Ioniq 6 Prestige
The Hyundai Ioniq 6 Prestige, a Singapore-made car, has garnered attention for its stylish design and robust build quality. This model resonates with younger consumers—though many may still find the concept of local car manufacturing surprising given our car ownership landscape.
The Navy’s Farewell to Challenger-class Submarines
In a significant development for national defence, the Republic of Singapore Navy has retired its last two Challenger-class submarines. This move paves the way for the introduction of new Invincible-class submarines, reflecting the Navy’s commitment to modernisation.
As Singaporeans navigate these developments, it’s crucial to stay informed and adapt to the changing landscape.