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Singapore's Inflation Rises; Growth Forecast Upgraded Amid Tariff Challenges

11/25/2025

29 4 Full Breakdown

Summary

Story summary

Singapore's inflation rose for a second month in October 2023 to 1.2%, with core inflation at 1.2% due to higher transport and health costs.
Zavier Wong says inflation is not broadly based, suggesting cautious consumer spending.
The Ministry of Trade and Industry upgraded Singapore's 2023 growth forecast to 4%, citing resilient global conditions.
A 10% tariff on U.S. exports challenges growth, with 2026 expected to slow due to tariffs.

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Story summary

Singapore's inflation rose for a second month in October 2023 to 1.2%, with core inflation at 1.2% due to higher transport and health costs.
Zavier Wong says inflation is not broadly based, suggesting cautious consumer spending.
The Ministry of Trade and Industry upgraded Singapore's 2023 growth forecast to 4%, citing resilient global conditions.
A 10% tariff on U.S. exports challenges growth, with 2026 expected to slow due to tariffs.