Roadbump ahead for S’pore retail sales as consumers seen to be turning cautious amid inflation

SINGAPORE – Singapore’s retail sales may have expanded at a double-digit pace in the past few months after pandemic curbs were relaxed, but consumers are now watching their spending because of inflation.

This finding is highlighted in a study – commissioned by credit card firm American Express (Amex) – which also notes that businesses are worried if they can keep up with rising costs.