AFP
18 Aug 2008
SINGAPORE (AFP) — Singapore's prime minister on Monday announced a 50 percent increase in assistance to help his countrymen deal with the rising cost of living, which he described as the country's "hottest issue."
Latest official figures showed the city-state's inflation rate in June remained at a 26-year high of 7.5 percent due to growing food, housing and transport costs.
In his key annual policy speech, Prime Minister Lee Hsien Loong noted the rising global costs of oil and rice, and said the next instalment of previously-announced government "Growth Dividend" cash handouts will go up by half to help ease the burden.
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