Low Yen Ling on cushioning impact of inflation

In the near term, Singapore is likely to continue to face external cost pressures. However, these rises are expected to be temporary, with pressures easing gradually over the course of the year. As the COVID-19 situation stabilises, consumer demand should improve. Core inflation is expected to increase in the first half of 2022, before easing later in the year. For the full year, core inflation could average within the upper half of the official forecast range of one per cent to two per cent. While household inflation expectations have risen slightly, they remain well-anchored. Minister of State for Trade and Industry Low Yen Ling shared these assessments of her ministry and the Monetary Authority of Singapore in reply to MPs' questions in Parliament on Tuesday (Jan 11). She said the Government has put in place a multi-pronged strategy to mitigate inflationary pressures. She assured Singaporeans that the Government will spare no effort in creating good jobs and keeping the economy vibrant.