singapores economic growth outlook has dimmed monetary authority of singapore managing director ravi menon said wednesday expecting the economy to operate slightly below its underlying capacity growth has perceptibly slowed in recent quarters menon said at a media conference where he also spoke about the central banks annual report growth will remain weak in the near term a material slowdown in global economic activity in the later part of this year looks increasingly likely he added however inflation in singapore has clearly peaked and moderated discernibly menon said the citystates inflation should slow further by the end of the year he added mas cut its 2023 forecast range for singapores consumer price index to 4555 from 5565 previously menon said also core inflation is expected to end the year sharply lower at 2530 he added the central banks proactive progressive tightening of monetary policy has helped curb price increases and facilitated a gradual slowing in inflation menon said however the fight against inflation isnt over yet and the mass monetary policy stance remains tight relative to the business cycle he added mas isnt switching to growthsupporting mode from inflationfighting mode menon said