1. What is GDP:
Singapore's GDP is the total worth of production of goods and services of the nation within a particular time frame.
Singapore being the international trade hub we are, does not generate a lot of products and services from the manufacturing sector. However, we do generate a lot of GDP from services such as trading and supply chain services. As such, when the world's economy grew, there was positive growth in out logistics sector as well as it meant our port had more business, and with more business, our GDP was able to increase

2. Is often understated
Does not include private or public financial transactions. With the rest of the world's IT sectors booming, Singapore did capitalise on the FOREX market as well as the buying of shares and assets around the world, however, this is not included in the GDP as it is not within singapore territorial bounds

3.  Economic Growth
economic growth occurs when a country's Real GDP has increased when comapared to the previous year's.
As shown in the article, it says that singapore's gdp has grown a certain perccentage. this means as compared to last years gdp, singapore has grown by 4% that of last years real GDP

4. Value added
As products pass through singapore, singapore provides ships with goods and services such as a place to dock and potable water for consumption along the journey. This means that goods that are being shipped and pass through singapore will cost more as value has been added as ships have to pay to stopover in singapore.

5. nominal vs real gdp
nominal gdp is the gdp of the country using the currency of that year, whereas real gdp is the gdp of a country using the currency of the base year. as singapore's gdp is although expected to rise, that may be the nominal gdp rising and could mean that despite a rise in gdp, the actual increase may be very little when using the real gdp to calculate it.

"inflation will mainly be driven by supply-side factors like energy and administered prices rather than demand-pull pressures"

There are two causes of inflation.
1.Cost push inflation
Brought about by increase in the cost of production.
Increase in energy prices such as the price of oil have been identified as one of the key drivers of increase in cost of production.
When the cost of production increases,suppliers will decrease Aggregate Supply so as to cut losses.
Assuming aggregate demand remains, a decrease in aggregate supply will lead to an increase in prices as shown on Image on the right. This is Cost push inflation.

Side effects of Cost Push Inflation: Wage Price Spiral
When the prices of goods are increasing as identified, then workers in Singapore will start demanding higher wages to cope with the increase in prices of goods and services.When the wages increase,it poses increased cost of factors of production such as labour. Thus employers will pass down the burden of increased costs to the customers in the form of higher prices of goods and services.
This is known as wage-price spiral.
Singapore needs to prevent this wage price spiral from taking place.

2.Demand Pull Inflation
Due to strong consumer demand.
When there is strong demand for the good then prices are bound to rise eventually due to scarcity.

Types of Inflation:Headline and Core Inflation
"In the article it is reported that Core Inflation had increased by 1.4%."

1.Headline Inflation is the CPU calculated Inflation.
2.Core Inflation exclude the cost of private road transport and accommodation to reflect the effect of inflation on the average person.
Singapore uses core inflation since it is a better representation of the impact of inflation on the average Singaporean.  

What is excluded from Singapore's Core Inflation?
1. Accommodation is excluded because of the way cost of owner occupied accommodation is computed which is using the imputed rent.
However since majority of Singaporeans stay in HDB(Housing Development Board) Housing there is a limited rental market and hence any changes in the rental prices may not affect majority of Singaporeans. 

2. Private Road Transport is also excluded since prices of road transport is closely driven by government policy.
The government is able to monitor and in a way control the prices of vehicles through import duties, parking charges,road taxes and a vehicle quota system known as the COE(Certificate of Entitlement) system.