Synopsis: The Straits Times analyses Singapore's latest news and announcements. 

A new report by Singapore's largest bank DBS, states that 40% of DBS' retail customers saw their income growth lagging inflation over the past year.

This comes as DBS raised interest rates for its multiplier deposit account, in a first across-the-board move by a local bank to offer customers higher returns on their regular savings amid the rising rate environment.

Senior economist at DBS Irvin Seah discusses the report's findings and gives tips on how to stay ahead of inflation.

Produced by: ST Video team

Edited by: ST Video team

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