The Star Online
3 May 2008
SEAH CHIANG NEE
Singapore’s annual inflation rate was at 6.7% in March – the highest since 1982 – and the republic is now paying a high price in becoming a global city of fine living.
HOW are Singaporeans, South-East Asia’s wealthiest people, coping with the city state’s worst inflation in 26 years?
On the streets and in homes, skyrocketing prices are shaping up into a terrible nightmare that is eating into their income, their savings and even their confidence.
Hardly a week passes without news of one price rise or another, with each increase seemingly begetting another. And on the horizon is the prospect of a deep global recession.
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