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2 clusters · 5 sources · 6 days · First seen · Last updated

Singapore inflation increase

Overview

Singapore reported that consumer inflation accelerated to 2.2% year-on-year in July, marking its highest level in nearly two years. This rise was primarily driven by higher electricity costs and energy prices linked to the war in Iran. While headline inflation rose, core inflation—which excludes private transport and accommodation—increased to 2.0%.

The spike in electricity and gas costs was specifically noted as a major driver, with inflation in that category swinging from -2.9% to +8.7% following a 17% jump in regulated household electricity tariffs.

In response to these economic pressures, the Monetary Authority of Singapore implemented monetary tightening in July. The government has also deployed support packages totaling approximately 2 billion Singapore dollars, including tax rebates and cash handouts. Meanwhile, the local market has seen the banking sector benefit from rising rates, even as rate volatility impacts real estate investment trusts.

Entities

Monetary Authority of Singapore · UOB · OCBC Bank · DBS Bank · Singapore

Timeline

  1. 13 days ago

    [BUSINESS] 2 sources
    Singapore inflation rises to 2.2% amid energy cost spikes

    Singapore's headline inflation rose to 2.2%, driven by higher electricity costs, while the local market sees banking strength and REITs struggling amid rising yields.

  2. 19 days ago

    [BUSINESS] 4 sources
    Singapore inflation rises to near two-year high in July

    Singapore's July inflation rose to 2.2% year-on-year, a near two-year high, though it missed economist expectations of 2.3%.

Sources

detlionblood32.wordpress.com · financialhorse.com · mustsharenews.com · spacemoney.com.br · toray.co.jp