Mitigating the Impact of Rising Inflation Rates in Singapore

The recovery phase from the COVID-19 pandemic has been slowed by several external shocks to the world’s global value and supply chain. Already one of the most expensive cities to live in, Singapore’s headline consumer price index or overall inflation reached 5.4 percent year on year in April 2022[1]. The core inflation (excludes accommodation and transport) also accelerated to 3.3 percent, the highest in a decade when core inflation reached 3.5 percent in 2012.

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