Impact of Malaysia's Diesel Price Increase on Singapore's Inflation Rate

7 Ms Hazel Poa asked 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.

Mr Gan Kim Yong: 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.