JRE: your economics-nerdy news source

The Straits Times reported on Sunday (no link, unfortunately) that hong bao inflation is running at a massive 150% year-on-year.

The red packets, traditionally stuffed with money and given to kids at Chinese New Year, are carrying more and more money as wages and economic growth skyrocket; the ST’s survey of 80 annoying, bratty teenagers found that the median hong bao payment is up from $4 last year to $10 this year. (And that’s $10 per packet – with packets coming from parents, grandparents, great-grandparents, aunts and uncles, there can easily be ten or more packets per kid.)

In other news, official Singaporean inflation is still only 4.6%.

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