Singapore 2023 CPI Forecast Raised Most in Asia Before Tax Hike

Economists raised forecasts for Singapore’s headline inflation by the most in Asia Pacific next year, as the city-state prepares for an increase in consumption tax, according to the latest survey conducted by Bloomberg News.

Consumer price gains in the Southeast Asian economy are seen quickening by 3.5% next year, 190 basis points higher from a December 2021 survey. The outlook on Australia’s inflation was raised by 170 basis points to 4%.

Economists also raised price-growth projections for all Asian countries, except for Hong Kong, where they see no change in inflation levels in 2023. China and Vietnam’s outlook was ...