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Singapore households continue to spend as inflation eases in 2023; credit card debt not a concern
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Consumers continued to spend on necessities like food, housing and utilities and wants such as holidays, according to DBS Bank.
ST PHOTO: CHONG JUN LIANG
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SINGAPORE – The pressure of rising prices eased somewhat for all households after hitting a high in 2022,
If rents of owner-occupied accommodation are excluded, the consumer price index (CPI) for households in the lowest 20 per cent income group increased by 4 per cent in 2023, down from 5 per cent in 2022.
