SPEECH BY MR LEE YI SHYAN, MINISTER OF STATE FOR TRADE AND INDUSTRY, DURING THE COMMITTEE OF SUPPLY DEBATE UNDER HEAD V (MINISTRY OF TRADE AND INDUSTRY) ON 4 MARCH 2011

Singapore’s headline inflation rate rose to 2.8% in 2010 from 0.6% in 2009. The lowest 20% income group experienced the lowest inflation rate of 2.4%, compared to 2.7% and 3.1% for the middle 60% and highest 20% income groups, respectively. Last year’s inflation affected the higher income group more than the rest.

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