Economics
Singapore Central Bank Sees Price Risks Amid Above-Trend Growth
- Global supply chain problems “could become entrenched”: MAS
- Inflation supported by imports, labor costs, domestic pickup
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Global supply chain disruptions and upward pressure on wages could linger longer than anticipated, according to Singapore’s central bank, increasing inflationary pressures on the city-state as it continues growing at a faster-than-usual rate next year.
The Monetary Authority of Singapore said in its twice-yearly macroeconomic outlook Thursday that rising imported and labor costs, as well as a pickup in domestic activity, will support a broad acceleration in inflation.