Wage recovery to put more stress on rising consumer costs

Singapore

RISING wages will push up Singapore inflation in 2022, although external forces remain the main culprit behind price increases, labour-market watchers told The Business Times.

Continued border closures have put upward pressure on salaries, which are also picking up from a pandemic-related trough in 2021 - and the cautious border reopening is unlikely to provide near-term relief.