Written reply to PQ on Impact of Malaysia's Diesel Price Increase on Singapore's Inflation Rate

Question

Ms Hazel Poa: To ask the Deputy Prime Minister and Minister for Trade and Industry what is the estimated impact of the 56% rise in Malaysia's diesel price in June 2024 on the rate of inflation in Singapore, especially on the price of food.

Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong

1. The increase in Malaysia's diesel prices is not expected to have a significant impact on Singapore's inflation rate, because imports from Malaysia by land constitute 6.3% of Singapore's total imports and 14.4% of our total food imports in 2023.