Yahoo! News Singapore, 30 Apr 2012The high inflation rate does not reflect the reality for average Singaporeans, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam.
He explained that people who already own homes and are not buying new cars are not affected, because more than half of the inflation is due to higher cost of new car ownership and higher housing rents.
Tharman added that the increase in prices for daily necessities and essential services, such as food, clothing and education, has been “much more moderate”, at 3 per cent or lower. Full story
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Average S’porean won’t feel effect of high inflation, says DPM - inSing.com
