CPI + 5.2%

[Jacmar]

let's face it. current inflation is mainly domestic, rather than international, how could appreciating SGD tackle domestic inflation?

Disagree on this point. right now there is a global asset inflation and singapore is no different especially been an open economy. You cannot look at each class of asset in isolation. once property prices goes up there is a wealth effect filtered through the economy. those that make money either through direct property purchase or enbloc or just feeling rich because their property asset has appreciated can afford to splurge. that was what happened in USA only to suffer the pain when the property prices collapse. right now with all the printing in USA there is still no inflation as people's asset are decimated.