Singaporeans most worried about finances in SEA amid rising costs: UOB study

SINGAPOREANS have the most finance-related worries in the South-east Asian region, amid expectations of rising household expenses and higher inflation, UOB said.

In its Asean Consumer Sentiment Study 2022 published on Monday (Sep 19), the bank noted that 66 per cent of Singaporeans were meaningfully concerned about finances, more than 10 percentage points above the regional average of 55 per cent.

Among the Singapore respondents, 67 per cent were concerned about rising household expenses, 61 per cent about long-term financial commitments, 64 per cent about decline in savings and wealth holdings, and 74 per cent about an increase in the goods and services tax (GST) and inflation.