According to the chart in this link, only Japan, HK, Switzerland and Norway are more expensive places to make 12 -15 pancakes using 110g of sifted flour, 2 eggs, 200ml of milk and 50g of butter. And this was when we had FTs making the pancakes! Soon we will overtake Switzerland.
When Goh Chok Tong talked of a Swiss standard of living for S’poreans, he must have meant cost-wise. SIGH. Zurich is the most expensive city in the world, and S’pore is eight places behind.