According to a survey conducted by Rakuten Insight in March 2023 in Singapore, about 76 percent of respondents aged 55 years and above stated that rising inflation affected their ability to pay for basic necessities such as food, clothing, and healthcare. In comparison, 44 percent of respondents in the same age group reported that they were unable to save due to inflation.
Impact of inflation on basic household expenditure in Singapore as of March 2023, by age
Characteristic
16 to 24 years
25 to 34 years
35 to 44 years
45 to 54 years
55 years and above
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Rakuten Insight. (April 12, 2023). Impact of inflation on basic household expenditure in Singapore as of March 2023, by age [Graph]. In Statista. Retrieved July 23, 2024, from https://www.statista.com/statistics/1380308/singapore-inflation-effect-on-household-expenditure-by-age/
Rakuten Insight. "Impact of inflation on basic household expenditure in Singapore as of March 2023, by age." Chart. April 12, 2023. Statista. Accessed July 23, 2024. https://www.statista.com/statistics/1380308/singapore-inflation-effect-on-household-expenditure-by-age/
Rakuten Insight. (2023). Impact of inflation on basic household expenditure in Singapore as of March 2023, by age. Statista. Statista Inc.. Accessed: July 23, 2024. https://www.statista.com/statistics/1380308/singapore-inflation-effect-on-household-expenditure-by-age/
Rakuten Insight. "Impact of Inflation on Basic Household Expenditure in Singapore as of March 2023, by Age." Statista, Statista Inc., 12 Apr 2023, https://www.statista.com/statistics/1380308/singapore-inflation-effect-on-household-expenditure-by-age/
Rakuten Insight, Impact of inflation on basic household expenditure in Singapore as of March 2023, by age Statista, https://www.statista.com/statistics/1380308/singapore-inflation-effect-on-household-expenditure-by-age/ (last visited July 23, 2024)
Impact of inflation on basic household expenditure in Singapore as of March 2023, by age [Graph], Rakuten Insight, April 12, 2023. [Online]. Available: https://www.statista.com/statistics/1380308/singapore-inflation-effect-on-household-expenditure-by-age/