The year-over-year (YoY) rise was mainly driven by higher prices for food, beverages and tobacco (3.5 per cent), particularly coffee, tea, cocoa and spices (16 per cent), sugar, confectionery and bakery products (15 per cent), meat and meat products (9.4 per cent), live animals (8.4 per cent) and dairy, eggs, fats and oils (7.3 per cent). Non-ferrous ores, metals and semi-finished products also saw a significant 17.6 per cent annual rise, Destasis said in a press release.
On a monthly basis, prices fell for coffee, tea, cocoa and spices (-6.2 per cent), live animals (-2.4 per cent), non-ferrous metals (-1.5 per cent), and dairy products (-0.4 per cent). Mineral oil products, however, rose 2 per cent from June despite a 5.7 per cent annual drop.
Waste and scrap (-9 per cent YoY), iron and steel (-5.6 per cent YoY) and computers (-4.8 per cent YoY) continued to record notable annual declines.
ALCHEMPro News Desk (SG)
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