Singapore’s inflation climbed to its highest level in nearly two years in July, reaching 2.2% year-on-year, yet still missing the 2.3% forecast by economists. Consumer prices fell 0.2% month-on-month, while core inflation came in at 2%, also below the expected 2.2%. The price surge was notably driven by higher energy costs linked to the Iran conflict, prompting the government to unveil two support packages totaling around 2 billion Singapore dollars. Meanwhile, Singapore sharply upgraded its 2026 GDP growth forecast to between 4.5% and 5.5%.
Source: Read the original article
