Singapore Inflation Steady at Four-Year Low Ahead of Election

Singapore's inflation remained steady at 0.9% in March, marking the lowest rate in over four years and aligning with the central bank's expectations that price pressures will cool in 2025. This figure, below market forecasts, comes as the country faces a possible period of zero GDP growth and prepares for its upcoming general election. Singapore's core inflation, closely watched by the central bank, also slowed, supporting recent moves to ease monetary policy. Officials cited global factors like wars, trade disruptions, and tariffs as contributing to cost-of-living concerns, with the Ministry of Trade and Industry lowering its GDP forecast for 2025. Recent policy adjustments by the Monetary Authority of Singapore reflect continued caution amid a challenging economic outlook, with further easing possible if conditions worsen. Despite official forecasts projecting low inflation, consumer expectations surveyed remain somewhat elevated, revealing mixed public sentiment.