Chart of the Day: Singapore's import food prices up
The increase however was by a smaller extent compared to global prices.
A joint report by the Monetary Authority of Singapore and the Ministry of Trade and Industry said:
Compared to global prices, Singapore’s import prices and domestic prices for a wide variety of food items rose by a smaller extent. This could be attributed to several factors, including (a) the long-term contractual agreements that food importers have with their suppliers; (b) diversification of food import sources; and (c) the general appreciating trend of the Singapore dollar.
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