Can someone tell me how is inflation defined?
inflation is calculated base on CPI
SG report for CPI can be found here
http://www.singstat.gov.sg/news/news/cpimay2011.pdf
Here is the report on the exact forumla they used
http://www.mas.gov.sg/resource/publications/staff_papers/MASOP010-ed.pdf
Which city counts the domestic market economy of the whole country as the GDP of that city?
I'm trying to think of organizations or city in a country that does not serve the rest of the country. Cant think of any. Shanghai for example is a Financial hub and major transportation gateway to the whole country of China. Measuring the GDP of Shanghai alone would be wrong as many Domestic services go through Shanghai. The only way to compare Singapore as a city state is to compare other countries of similar stature
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