04-08-2022, 05:18 AM
"Low-income earners in Singapore will face the lowest growth in wages and the biggest jump in household expenses as inflation rises, according to research by DBS bank.
Wages for those earning less than 2,500 Singapore dollars ($1,815) a month rose by only 2.5% between May last year and this year, the study showed.
Expenses for Singaporeans earning less than S$2,500 grew 13.8% between May 2021 and May this year 5.6 times more than their income growth of 2.5%, the study showed.
Inflation in Singapore hit a 13-year high of 4.4% in June, a 0.8% increase from the previous month."
K
Wages for those earning less than 2,500 Singapore dollars ($1,815) a month rose by only 2.5% between May last year and this year, the study showed.
Expenses for Singaporeans earning less than S$2,500 grew 13.8% between May 2021 and May this year 5.6 times more than their income growth of 2.5%, the study showed.
Inflation in Singapore hit a 13-year high of 4.4% in June, a 0.8% increase from the previous month."
K