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Pricier goods here due to small market size, transport costs: MAS, MTI

Published on Apr 29, 2014 12:43 PM
 
Some consumer products are more expensive in Singapore compared with other cities, partly due to the Republic's small market size and the higher transport costs of bringing products into the country. This is according to a study commissioned by the Monetary Authority of Singapore  and the Ministry of Trade and Industry, which sampled 647 products from Apple, Ikea (above), and Zara. -- ST FILE PHOTO: ALPHONSUS CHERN

Some consumer products are more expensive in Singapore compared with other cities, partly due to the Republic's small market size and the higher transport costs of bringing products into the country.

This is according to a study commissioned by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI), which sampled 647 products from Apple, Ikea, and Zara.

The study, which was released on Tuesday, compared the prices of these products across 11 cities including Singapore.

Singapore's prices are above the median average for two thirds of the items, and below the median mark for a quarter of them.

 
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