Accommodation, transport prices to stay high in H1 23: analyst

This despite the softening inflation.

Although cost pressures are softening, accommodation and transport prices will likely increase in the first half of 2023, CGS-CIMB said.

The GST hike and a slowdown in retail sales are expected to negatively impact growth, the analyst said in a brokerage report. The forecast for CPI growth in 2023 is 4.5% and GDP growth is 2.0%.

The central bank reported that core inflation grew 5.1% year-over-year (YoY) and headline inflation grew 6.5% YoY.

This is slightly higher than consensus estimates, and marks a slight decrease from Nov's numbers.

The manufacturing sector improved, with a contraction of only 3.1% YoY in December, compared to consensus estimates of a 6.9% contraction.

Follow the link for more news on

CGSCIMB

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia