Singapore PPI Inflation Eases Further
Singapore’s producer price inflation eased for the second straight month in August to the lowest level in nearly a year, data from the Department of Statistics showed on Thursday.
The manufacturing producer price index climbed 14.7 percent year-on-year in August, slower than the 16.4 percent surge in July.
Further, this was the slowest rate of increase since September last year, when prices had risen 14.4 percent.
The oil-index grew 50.9 percent annually in August and the non-oil index registered an increase of 9.3 percent.
Domestic supply prices were 17.3 percent higher in August compared to last year, after a 19.2 percent gain in the previous month.
On a monthly basis, producer prices decreased 1.8 percent in August, following a 1.4 percent fall in July.
Separate data from the statistical office revealed that import prices also grew at a slower pace of 12.8 percent yearly in August, after a 14.8 percent spike in the prior month.
Monthly, import prices slid 1.7 percent from July, when they dropped by 4.4 percent.
Data showed that export prices registered a double-digit growth of 14.1 percent yearly in August, while they were 3.7 percent lower compared to a month ago.
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