KOK POH KOON SAYS WATER & OTHER PRICE HIKES HAVE SMALL INFLATION IMPACT

Responding to PAP MP Zaqy Mohamad's question if the recent slew of price increases (water, electricity, transport, carpark) would impact inflation and affect Singaporeans, Minister of State for Trade and Industry Dr Koh Poh Koon said that the price increases only contribute 0.2 pp to inflation and this impact is small.

Dr Koh said that against a backdrop of increase in oil prices, the main driver of price increases this year was from the electricity and other energy-linked items such as petrol or diesel.

Koh went on to explain that the PAP Government took price increases seriously and would smoothen out the increases when possible but it was difficulty to smoothen increases this year due to the fluctuating oil and gas prices which was not within the PAP's control.

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