DBS Group Research expects core and headline inflation in Singapore to rise to 1.6% and 1.8% year-on-year in March 2026, from 1.4% and 1.2% in February. The report attributes this to price pressure on imported energy following the conflict in the Middle East. Higher costs are likely for transport and tourism services, and pressure on electricity, gas and food prices remains restricted for now.
March inflation surge fueled by energy
“Singapore inflation data for March 2026 is likely to reflect the initial impact of the energy shock from the Middle East conflict.”
“We expect core and headline inflation to rise to 1.6% year-on-year and 1.8% year-on-year, respectively, in March, up from 1.4% year-on-year and 1.2% year-on-year in February.”
“The increase was likely due to increased price pressure on imported energy amid soaring global prices for crude oil, refined oil and gas.”
“This is likely to translate into higher inflation in categories such as point-to-point transport services, travel-related services due to airfare increases, and private transport, while upward pressure on electricity, gas and food prices remains subdued for now.”
(This article was created with the facilitate of an artificial intelligence tool and has been reviewed by an editor.)
