SINGAPORE, Feb. 10 -- In a landmark report, Singapore's Ministry of Finance (MOF) has unveiled the nation's first official measure of wealth inequality, revealing a more pronounced disparity in wealth than in income. The report also indicates a concerning trend of slowing social mobility.

According to The Straits Times, in the report the key metric, the Gini coefficient for wealth, is estimated at 0.55. This is significantly higher than the Gini coefficient for income, which stands at 0.38 after government taxes and transfers. A coefficient of 0 represents perfect equality, while 1 indicates maximum inequality.

Wealth inequality measures the distribution of a population's total assets (like property, stocks, and savings) minus liabiliti...