Singapore sea freight service prices jump 25.4 percent in the second quarter
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Singapore's sea freight transport price index rose 25.4 percent from the first quarter and 32.6 percent from a year earlier, the Department of Statistics said in a report published Friday.
Freight forwarding prices rose 10.2 percent over the quarter and 14.9 percent over the year. Postal and courier services increased 7.1 percent and cargo handling rose 2.7 percent from the first quarter, while warehousing and storage added 0.6 percent.
Shipping stood apart.
The department attributed increases in some of the service indices mainly to higher fuel costs and other operating cost pressures amid conflicts in the Middle East, and said that pressure was particularly evident in sea freight transport and freight forwarding.
Accounting services prices fell 1.8 percent from the first quarter, while telecommunications prices declined 1.0 percent. The indices measure average prices received by Singapore establishments for selected services, excluding taxes. They are producer prices, not consumer inflation.


