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Financial News: Singapore PPI Inflation Accelerates Further In July

Singapore PPI Inflation Accelerates Further In July

08/29/2017 - 07:31:00 (RTTNews)

(RTTNews) - Singapore's producer price inflation accelerated for the second straight month in July, figures from the Department of Statistics showed Tuesday.

The manufactured product price index climbed 3.9 percent year-over-year in July, faster than June's 2.5 percent rise.

The oil and non-oil indices grew 17.0 percent and 1.9 percent, respectively in July from a year ago.

The domestic supply price index rose 4.7 percent annually in July, while it dropped 0.6 percent from a month ago.

On a monthly basis, producer prices decreased 1.1 percent from June, when it slid by 1.1 percent.

Data also revealed that import prices grew at a faster rate of 4.1 percent yearly in July, following a 3.2 percent increase in the prior month.

Similarly, export prices went up 2.6 percent in July from a year earlier, after a 1.4 percent gain in the prior month.

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