Singapore’s inflation may have peaked but price pressures remain, with growth also slowing in 2023

Headline inflation eased to 6.7 per cent year on year in October, down from 7.5 per cent in September. PHOTO: ST FILE
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SINGAPORE – Inflation has already peaked here, although prices will stay elevated into the new year before coming down in 2024, say economists.

But there is still pain ahead, with DBS Bank senior economist Irvin Seah noting that it will be a “rough ride for some of us as the economy moves into a soft patch next year”.

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