EconomicAffairs

The great inflation debate

Whether the hawks or doves prevail will have a profound impact on economies and markets

Some small and medium-sized enterprises are being hit by electricity bills three to five times what they paid last year. ST PHOTO: KUA CHEE SIONG
New: Gift this subscriber-only story to your friends and family

After years of mostly stable prices, the scourge of inflation is now hitting Singapore, as recent news reports attest. It may not be fully reflected in the consumer price index, but companies are feeling it.

With energy costs soaring, some small and medium-sized enterprises are being hit by electricity bills three to five times what they paid last year. Rates for sea freight have doubled from a year ago. Taxi fares are headed up. So are prices of construction materials and several food items.

Already a subscriber? 

Dive deeper at $0.99/month

Want more exclusives, sharp insights into what's happening at home and abroad? Subscribe to stay informed.

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • 2-week e-paper archive so you never miss out on any topic that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.