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Financial News: Singapore PPI Inflation Accelerates For Third Month

Singapore PPI Inflation Accelerates For Third Month

09/29/2017 - 01:39:00 (RTTNews)

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

The manufactured product price index climbed 4.9 percent year-over-year in August, faster than July's 3.9 percent rise.

The oil and non-oil indices grew 22.2 percent and 2.3 percent, respectively in August from a year ago.

The domestic supply price index rose 5.8 percent annually in August and climbed 1.0 percent from a month ago.

On a monthly basis, producer prices increased 1.0 percent from July, when it dropped by 1.1 percent.

Data also revealed that import prices grew at a faster rate of 4.9 percent yearly in August, following a 4.2 percent increase in the prior month.

Similarly, export prices went up 3.1 percent in August from a year earlier, after a 2.6 percent gain in July.

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