http://economics.about.com/cs/money/a/inflation_terms.htm
I think singapore is expereincig both at the same time.
No, Singapore is experiencing a spiral inflation, actually
inflation should cool down after oil and rice prices drop. It an
inflation fever out of nothing, and taking advantages into our
countries dependency on import of goods as we lack natural
resources, the fever is damn hot, u increase, he increase, she also
increase and increase. It an inflation upon inflation, cost
overlapping cost scenarios.
In singapore, the demand is more less constant in term of
essential goods as we lack natural resources. We can lower our
demand on electronics and electrical product, but not our daily
toothpaste, washing powder, foods, etc etc