Friday March 28, 2008

Price of paper up by as much as 40%

channelnewsasia.com :

The price of paper around the world has gone up by as much as 40% over the past year. This has caused the price of recycled paper to increase by 100%. Raw pulp now costs almost US$1,000 per tonne. Industry players said the higher prices are due to higher inflation.

There is also a bigger demand for paper this year, because of the US Presidential Elections and Beijing Olympics. Many local printing companies have been affected by the price increase, so they are looking for alternatives to remain competitive. Since the price of imported waste paper is now US$275 per tonne, local waste paper companies have raised their buying price to attract more waste paper collectors.

- For once, the news media has got it right, if only perhaps inadvertently. That's right, higher prices are due to higher inflation. And inflation, going by the classic Austrian definition, is an increase in the money supply.

See also :

1. Singapore CPI inflation hits 6.6% in Jan 2008 - a new 25-year record high
2. 23.62% : Singapore M3 money supply growth
3. Hyper-inflation : early warning signs

(2008-03-28 13:19:42 SGT) [Biz] Permalink

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