Effect of Prices of Goods on Major E-commerce Platforms on Consumer Price Index

Mr Gan Thiam Poh asked the Minister for Trade and Industry (a) whether the prices of goods on all major e-commerce platforms are taken into consideration when computing the Consumer Price Index; and (b) whether the wide diversity and competitive pricing on the e-commerce platforms have helped lower the cost of living for local residents in addition to having a stronger Singapore dollar.

Mr Speaker, the prices of goods and services sold on major e-commerce platforms, such as Shopee, Lazada and Qoo10, are incorporated in the Consumer Price Index (CPI). E-commerce benefits consumers by offering them a wider choice of goods and services, at a wider range of prices. It also reduces the costs of sale such as those incurred by physical retail outlets.