The bright side to inflation

Letter from Chen Weiling, Straits Times 8 Apr 08;

INSPIRED by the Saturday Special Report on inflation and food consumption, I would like to propose an alternative angle we could view the situation from. While I empathise with the low-income group struggling to make a decent meal out of what they earn, inflation could well be good for most middle-income Singaporeans.

Most families are first cutting down on luxury food items such as potato chips and pizza. Some are substituting more expensive meat dishes with tofu and vegetables, while eating out less often. Coincidentally, these moves are helping to promote healthier diets of less oil, salt, preservatives and red meat, as well as leading people to healthier options such as vegetables.

Some are cutting down on luxury activities like watching movies and travelling; some terminate their cable television subscriptions. Many have started buying more local brand goods instead of imported products/services.

Instead of unwillingly sacrificing our chips and cable TV programmes, perhaps Singaporeans can be a happier lot by seeing the silver lining behind inflation: healthier diets, more quality time with our families, supporting local enterprises and developing a greater appreciation of the simpler things in life.