Emergence of Second-round Effect of Inflation and Main Drivers Contributing to Wage and Services Inflation Outlook in 2022

9 Mr Saktiandi Supaat asked the Minister for Trade and Industry (a) whether there has been an emerging second-round effect of inflation; (b) if so, whether such effect will persist in 2022; (c) what are the potential main drivers contributing to wage and services inflation outlook in 2022; (d) what other price stabilisation measures are being explored to mitigate potential rise in supply side cost drivers; and (e) whether there are further plans to enhance cooperation with retailers in 2022 to reduce excessive pricing practices on daily necessities and food items.

Mr Gan Kim Yong: I thank for Member for the question. It has been addressed by oral reply to Question Nos 4 and 5 on the Order Paper for 11 January 2022. [Please refer to "Reasons for Recent Rise in Costs and Measure to Help Singaporeans Cope", Official Report, 11 January 2022, Vol 95, Issue 45, Oral Answers to Questions section.]