
Singapore's core inflation edges up in April; price risks seen tilted to downside
The annual core inflation rate, which excludes private road transport and accommodation costs, was 0.7% in April, above the median forecast of 0.5% in a Reuters poll of economists and also the March reading of 0.5%.
Headline inflation was 0.9% in annual terms in April, steady with March's reading and a notch higher than economists' forecast of a 0.8% rate.
The rise in the annual core inflation rate was the first since September last year, when it had ticked up to 2.8%.
The Monetary Authority of Singapore loosened monetary policy for the second time this year at a review in April, reflecting concerns about its growth outlook amid economic uncertainty from U.S. tariffs. It also reduced its forecasts for both core and headline inflation to 0.5% to 1.5%.
"The risks to inflation are tilted towards the downside given heightened uncertainties in the external environment," the MAS and Trade Ministry said in a statement on the data.
Singapore last month also downgraded its GDP forecast for 2025 to 0% to 2% from the previous 1% to 3%, citing the direct and indirect impacts of the U.S. tariffs, and officials have said there is a risk of recession in the city-state.
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