The ups and downs of cost of living

The Rhetoric

“The cost of living in Singapore has gone down, not up.”
DPM Lee Hsien Loong, Straits Times, Mar 12, 2003

The Reality

“Singapore’s consumer prices gained for a sixth month last month as food and education costs rose. An index of consumer prices rose 0.7 percent from a year earlier, the Department of Statistics said.”
Bloomberg, Jan 27, 2004

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