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2026-05-26 09:49:07
[RHB Bank: Middle East Oil Supply Disruptions Combined with El Niño Expected to Further Increase Inflationary Pressures in Singapore] (1) Barnabas Gan, Chief Economist of RHB Bank Group, stated in a report that Singapore's inflationary pressures are expected to further increase in the coming months as Middle East oil supply disruptions continue and put pressure on supply chains. (2) Rising oil prices will push up transportation, utility, and business operating costs and may also affect broader consumer inflation; in addition, rising fertilizer costs and El Niño weather disruptions may also push up food prices in Singapore. (3) Gan pointed out that Singapore is heavily reliant on food imports, and rising global prices will be passed on to wholesale and retail food prices through higher import costs.
