\n<\/p>\n
A housewife (R) buys vegetables at a wet market in Singapore<\/p>\n
Roslan Rahman | Afp | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n
Singapore inflation missed estimates even as it accelerated to a near two-year high in July, as higher energy prices due to the Iran war lifted electricity prices. <\/p>\n
The city-state reported that consumer prices rose 2.2% last month, year on year, compared with the 2.3% expected by economists polled by Reuters, and the 1.9% rise seen in June. Consumer price index fell 0.2% on a month-on-month basis.<\/p>\n
The Monetary Authority of Singapore had tightened its monetary policy<\/a> in a surprise move in July, warning last month that imported inflation was likely to rise in the coming quarters due to higher fuel and electronic input costs.<\/p>\n Core inflation, which strips out prices of private transport and accommodation, rose to 2% compared to the 2.2% forecast.<\/p>\n Singapore had rolled out two support packages<\/a> for the country in response to the Iran war, totaling about 2 billion Singapore dollars, with cash handouts, consumption vouchers for households, and tax rebates for companies. <\/p>\n The inflation data also comes as the city-state upgraded its GDP forecast<\/a> sharply for the full year 2026, with growth now expected to come in at 4.5% to 5.5%, more than double the lower-end of its previous forecast of 2%-4%.<\/p>\n This is breaking news, please check back for updates.<\/em><\/p>\n<\/div>\n
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