Standard Chartered: Some regions in Southeast Asia may face higher food inflation.

Economists at DBS wrote in a report that if the Middle East conflict continues, some Southeast Asian countries may face higher food inflation. Food plays a significant role in the consumer price index basket of these countries, with Thailand, Vietnam, and the Philippines most likely to be affected by rising food prices. The Middle East is the world's main exporter of nitrogen fertilizers, accounting for 20% to 30% of the global share. DBS Group stated, "In terms of direct impact, we assess that Thailand, as a major agricultural producer, is the most vulnerable country in the region." Despite Singapore's diversification from multiple sources, the country also faces the risk of international food price shocks.