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Singapore Posts Softer April Inflation at 1.8%, Well Below Forecast

Singapore's inflation came in at 1.8% in April, undershooting analyst expectations of 2%. Services and retail price growth moderated, providing temporary relief. Core inflation, which excludes private transport and accommodation costs, registered at 1%. However, monetary authorities flagged emerging pressures ahead. The Monetary Authority of Singapore warned that imported cost pressures will intensify as elevated energy and input expenses from Middle East disruptions propagate through global supply chains, raising production and transport costs across a broader range of imported goods and services. Singapore's first-quarter GDP growth was revised upward to 6% from initial estimates of 4.6%, exceeding analyst forecasts of 5%. Full-year growth is projected between 2%-4% amid energy-related disruptions affecting the Strait of Hormuz. The MAS tightened policy in April for the first time in over three years.