MAS to update Singapore’s inflation outlook in April amid Iran war impact

SINGAPORE – Singapore’s central bank will update its inflation outlook in its April monetary policy statement as it a ssesses recent developments amid the Middle East conflict which has sent energy prices soaring. The Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) noted that “Global energy prices have risen significantly in recent weeks due to the ongoing conflict in the Middle East. “Singapore’s import cost pressures are likely to pick up in the near term.” MAS currently forecasts core inflation and overall inflation to average 1 per cent to 2 per cent in 2026. MAS…