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Inflation in Singapore expected to peak in Q4: official

Inflation in Singapore is expected to peak in the next two to four months and will start to ease thereafter, Deputy Prime Minister and Finance Minister Lawrence Wong has said.
Inflation in Singapore expected to peak in Q4: official ảnh 1Inflation in Singapore expected to peak in Q4. (Photo: AFP/VNA)
Singapore (VNA) - Inflation in Singaporeis expected to peak in the next two to four months and will start to easethereafter, Deputy Prime Minister and Finance Minister Lawrence Wong has said.

In an interview granted to Bloomberg, Wong said inflationrates here may very well settle at a higher rate given the geopoliticalenvironment, supply chain issues and how economies are transitioning towardsbecoming more sustainable.

He added that the extent of this easing towards theyear end and where the new inflation rates will stabilise at are biguncertainties.

Wong noted that they are not likely to return to therates Singapore had been used to over the last decade or so, as zero to 1%inflation was a historical anomaly and never used to be so low.

The Monetary Authority of Singapore (MAS) hasalready tightened monetary policy four times in the last nine months to dampeninflation, Wong said, adding that the agency’s next monetary policy statementis scheduled for October.

Additionally, targeted measures to help the mostvulnerable deal with rising prices have also been put in place, including a 1.5billion USD support package announced in June to provide immediate relief.

If the inflation situation were to worsen, theSingaporean government will certainly be able to provide more assistance, hesaid./.
VNA
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