Normalisation of holiday demand could have contributed to softer inflation despite impact of GST hike: UOB economists

Jewel Stolarchuk
Tue, 27 Feb 2024 03:33:46 +0000
Featured News, SG Economy, GST hike, Inflation

SINGAPORE: Experts responding to the recent deceleration in consumer prices, which eased to 2.9% year-on-year in January despite the implementation of the Goods and Services Tax (GST) hike during the same month, have suggested that the dip could be due to a number of factors. One factor could be a “dampened passthrough of the GST …