Alvin Tan on mitigating the effects of rise in inflation
Singapore has seen a rise in domestic inflation, largely due to higher external inflation. This is on the back of increases in global energy and food commodity prices and persistent supply chain bottlenecks. Minister of State for Trade and Industry Alvin Tan told Parliament on Wednesday (Nov 3) that the Government is taking a multi-pronged approach to tackling this. It includes the recent surprise tightening of monetary policy, managing domestic supply-side constraints, diversifying food import sources and helping lower-income households with their basic living expenses. Mr Tan was replying to MPs' questions.
Singapore has seen a rise in domestic inflation, largely due to higher external inflation. This is on the back of increases in global energy and food commodity prices and persistent supply chain bottlenecks. Minister of State for Trade and Industry Alvin Tan told Parliament on Wednesday (Nov 3) that the Government is taking a multi-pronged approach to tackling this. It includes the recent surprise tightening of monetary policy, managing domestic supply-side constraints, diversifying food import sources and helping lower-income households with their basic living expenses. Mr Tan was replying to MPs' questions.
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