Survey: Economists expect headline inflation to hit 5pc in 2022, leading to slower economic growth

SINGAPORE, June 8 — Private economists expect headline inflation in Singapore to hit 5 per cent this year, up from their March estimate of 3.6 per cent, leading them to slightly downgrade their forecast for full-year economic growth.

The survey collated responses from 24 economists and analysts who closely monitor the Singapore economy. The latest survey findings are in line with the official 2022 forecast by MAS, which has flagged the risk of higher than previously anticipated inflation in the months ahead. These factors were named by 88.2 per cent of respondents as compared with 77.8 per cent in the previous survey.

They are also hopeful that an accelerated revival in travel and tourism-driven by ongoing border reopening, as well as a stronger-than-expected expansion in manufacturing output, will benefit Singapore’s economy.• Private residential property prices to increase

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