thehomeground asia
28 Oct 2022

Poor worst hit by inflation, middle class not spared as well

Kevin Lim and Arulnathan John

Inflation is wreaking vengeance on the poor and low income, eroding the value of real wage and savings, and leaving them poorer. Even Prime Minister Lee Hsien Loong warned of challenges in the cost of living and that a global recession could occur within the next two years. Methodist Welfare Services (MWS) says it has…