Singapore reports lower-than-expected inflation for April at 1.8%, revises economic growth higher
Singapore's inflation rate for April was reported at 1.8%, lower than the expected 2%. The country also revised its first-quarter GDP growth to 6%, exceeding previous estimates. The Monetary Authority of Singapore has tightened its monetary policy due to concerns over inflation and energy supply disruptions.
- ▪Inflation in Singapore for April was reported at 1.8%.
- ▪The first-quarter GDP growth was revised to 6%, up from 4.6%.
- ▪The Monetary Authority of Singapore tightened its monetary policy for the first time in over three years.
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- ▪ Singapore core inflation at 1.4% on year in April, lower than expected — Investing.com — News
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Singapore on Monday reported lower-than-expected inflation for April at 1.8% in April, as the higher costs of energy due to the Iran war will take meaningful effect only from the third quarter. Reuters-polled economists has estimated inflation at 2%. Core inflation — which strips out prices of private transport and accommodation — came in at 1.4%.Earlier in the day, Singapore revised its first-quarter GDP growth sharply higher to 6%, up from 4.6% in advanced estimates, and topping Reuters estimates of 5.1%.
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