Using the data on the Average Monthly Household Income from Work Among Resident Employed Households by Deciles, compute the nominal percentage change in the monthly household income over the previous year for 2010 to 2021.

Call the Consumer Price Index (CPI) By Household Income Group, Lowest 20%, middle 60%, and Top 20%, and compute the percentage change in real monthly household income, from 2010 to 2021.

Using the data on income, generate the 90/10 ratio as well as the 50/10 ratio.

Generate appropriate histograms or plots that best help you to visualize the data, which you can import into the analyses.

• In Budget 2011, the Minister of Finance, Mr. Tharman Shanmugaratnam articulated the government’s long-term goal of growing incomes for all Singaporeans, including those at the lower end of the income ladder. The aim is “to raise incomes by 30% in real terms over this decade.” Real income growth measures the improvement of consumption and standards of living.