Real wage growth in Singapore was up 1.6% in 2021, slightly higher than the previous year at 1.4% but still lower than the 3.3% recorded in 2019, reports the Business Times, citing data from the Ministry of Manpower. Despite rising prices, wage growth in 2021 still exceeded inflation, meaning that wages grew in real terms but at a slower pace. As inflation is expected to stay elevated, The Ministry expects that it will continue to dampen real wage growth next year. Singapore’s core inflation jumped to 3.3% in April, the highest level since early 2012. Supply chain disruptions and the uncertainty arising from Russia’s war in Ukraine could also affect business confidence and slow the rate of growth. The Ministry expects wage growth to continue next year as the labour market is expected to remain tight, even as the easing of border restrictions may ease some of the tightness as non-resident workers return to Singapore. Chua Hak Bin, a senior economist at Maybank Singapore noted that workers are more likely to factor inflation into their wage demands and quit if wage adjustments do not keep pace.