Consumer Price Developments – September 2022
While demand conditions in major economies have softened and supply chain frictions have continued to ease, Singapore’s imported inflation is expected to remain significant for some time. In particular, energy and food commodity prices remain high given ongoing supply constraints, while wage pressures remain strong in major advanced economies due to tightness in their labour markets.
Consumer Price Index (CPI)-All Items inflation remained unchanged at 7.5% on a year-on-year basis in September, while MAS Core Inflation increased to 5.3%, from 5.1% in August. Read the full report here: https://www.mti.gov.sg/Newsroom/Press-Releases/2022/10/Consumer-Price-Developments-in-September-2022
To provide further cost of living relief, Deputy Prime Minister and Minister for Finance Lawrence Wong announced an additional $1.5billion support package on 14 October 2022. Find out more about the package: https://go.gov.sg/oct-support-package
