OUTLOOK
Elevated global energy prices have led to increases in Singapore’s electricity and gas tariffs, as well as higher transportation fares, authorities noted.
The persistently high and volatile global oil prices, coupled with adverse weather conditions, are also expected to lower agricultural yields and raise Singapore’s imported food prices.
“As higher input costs pass through global supply chains, the prices of a wider range of Singapore’s imported goods and services are expected to pick up in the quarters ahead,” said MAS and MTI.
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