20th Feb 2008
Andy Mukherjee, Bloomberg
SINGAPORE -- Stagflation has come to Singapore.
The entire focus of the government's annual budget, announced Feb. 15, was on dealing with the perils of slowing growth and accelerating inflation, a deadly combination as less fiscally robust governments than Singapore's may soon discover.
Of the two, the bigger threat is clearly the 4.4 percent rate at which consumer prices rose from a year earlier in December, the quickest pace in a quarter century.
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