Is it time to talk about inflation in Singapore?

Economists weigh in on the forces driving prices in Singapore now, and whether they will speed up or ease off

Sharon See

Published Sat, Jun 19, 2021 · 05:50 AM

Singapore economy

AT first, pandemic panic seemed to be what was driving up prices, whether it was for medical supplies, essential raw materials, or food. Other factors soon came into play. Border closures and lockdowns that shut factories disrupted the global supply chain, causing shortages around the world. But 2021 has arguably been slightly less depressing for most countries that have somewhat learnt to live with the pandemic. Most countries have embarked on a vaccine rollout, albeit at varying speeds, and this has helped to facilitate the road to recovery for their economies, following last year's huge setbacks.

Even so, prices haven't fallen accordingly, setting the ball rolling for the great infl…