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Financial News: Singapore PPI Climbs For Third Month

Singapore PPI Climbs For Third Month

03/29/2017 - 01:23:00 (RTTNews)

(RTTNews) - Singapore's producer prices increased for the third straight month in February, figures from the Department of Statistics showed Wednesday.

The manufactured product price index climbed 7.9 percent year-over-year in February, slower than January's 8.9 percent spike.

The oil and non-oil indices grew 59.1 percent and 1.7 percent, respectively in February from a year ago.

The domestic supply price index rose 15.3 percent annually in February, while it dropped 0.2 percent from a month ago.

On a monthly basis, producer prices decreased 0.3 percent from January, when it increased by 0.8 percent.

Data also revealed that import prices grew at a faster rate of 11.9 percent yearly in February, following a 11.3 percent rise in the prior month. It was the fourth month of increase in a row.

Similarly, export prices went up 6.5 percent in February from a year earlier, after a 5.9 percent gain in the prior month.

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