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Financial News: Singapore Producer Price Inflation Accelerates

Singapore Producer Price Inflation Accelerates

05/29/2024 - 03:40:00 (RTTNews)

(RTTNews) - Singapore's producer price inflation accelerated in April amid an increase in both the oil and the non-oil index, data from the Department of Statistics showed on Wednesday.

The manufacturing producer price index climbed 3.2 percent year-on-year in April, faster than March's 2.3 percent rise.

The non-oil index rose 2.8 percent annually in April, and the oil index showed an increase of 5.4 percent.

Domestic supply prices were 0.1 percent lower in April than a year ago, following a 2.0 percent decline in the prior month.

On a monthly basis, producer prices increased at a stable rate of 0.3 percent.

The import price index fell at a slower pace of 1.7 percent over the year, following a 4.0 percent decrease in the previous month.

Data showed that export prices declined 0.5 percent annually in April, slower than the 2.2 percent drop a month ago.

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