Singapore’s core and headline inflation expanded further in May. During the month, Singapore’s CPI-All items inflation rose to 5.6% from April’s 5.4% increase, while MAS core inflation grew 3.6% y-o-y, up from the 3.3% growth seen in April.
The hike in Singapore’s goods and services tax (GST) will “inevitably” need to proceed as planned, says Gan Hwee Leng, partner, indirect tax, at KPMG.
With prices increasing due to the current inflationary environment, however, it’s understandable that Singaporeans should be concerned about an increase in GST, which could put additional pressure on residents, she adds.
