"I have a bigger worry"

The sizzling property market over the past year is causing concerns in all quarters. But this man says such concerns are unfounded, according to this report.

"Prices for the middle-income and for the HDB heartlanders … are still quite affordable for Singaporeans in general," he said, adding that his bigger, long-term worry for the city-state was its talent pool, which is essential to economic growth...

Mr Goh said he has heard multinational companies complain about climbing rentals, but that has not deterred them from opening offices here.

"Costs are always important, but we are not going to allow costs to prevent us from growing. Just move into the right sector," he said, listing higher value-added industries such as biomedical and financial services.

As for concerns about the rising costs of living, he said: "Costs are always a factor, but generally, you do want the standard of living of Singaporeans to go up. And a higher standard of living means more income in real terms ... We do monitor inflation."

I don't quite get the last part. Is he saying rising costs of living equates with a rise in standard of living???? Doesn't make sense to me...