Singapore's inflation rate for April came in at 1.8%, below the 2% forecast by economists, as rising energy costs linked to the Iran war are expected to manifest later in the year.
The core inflation rate, which excludes private transport and accommodation, was reported at 1.4%, falling short of the 1.7% estimate.
The data suggests that the immediate inflationary impact of the ongoing geopolitical tensions remains muted, offering some respite to policymakers.
The Monetary Authority of Singapore (MAS) has been closely monitoring inflation trends amid global energy price volatility.
The revised economic growth figures for the first quarter were also released alongside the inflation data, showing a slight upward adjustment.
However, the focus remains on the inflation numbers, which could influence the central bank's approach to monetary policy in the coming months.