Singapore is headed for a troubling year in which economic growth will slow while inflation will remain elevated, in part because wage increases are expected to continue.

The Monetary Authority of Singapore says global prices may come off their recent peaks but inflation here will remain higher in 2023 than the historical average.

In The Straits Times’ The Big Story, Multimedia Correspondent Cheow Sue-Ann speaks with Terence Ho is Associate Professor in Practice at the Lee Kuan Yew School of Public Policy, National University of Singapore on the worst case scenario and how Singapore can be best prepared should conditions worsen.