News analysis

Singapore’s inflation problem is unlikely to dissipate any time soon

Most economists believe consumer demand will continue to hold even if wage growth lags behind the pace of price increases. ST PHOTO: BENJAMIN SEETOR
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SINGAPORE – Signs that inflation is softening have been emerging recently, but the persistent pace of gains in core consumer prices means the crisis is far from over.

This environment of high prices – in Singapore and in other advanced economies – challenges the market consensus that lower inflation can be achieved without a recession and a jump in unemployment.

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