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Singaporeans’ high savings a buffer as inflation pushes up cost of living: Experts
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Households in the lowest 20% income tier experienced the biggest increase in inflation in the first half of 2024.
PHOTO: ST FILE
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SINGAPORE - Inflation has pushed up the cost of living in South-east Asia but financial watchers say most Singaporeans are in good financial shape, with their high level of savings serving as a buffer.
This is even as data from the Department of Statistics (SingStat) on Aug 22 showed personal saving contracted by 5.9 per cent in the second quarter of 2024 from the same period a year ago.
