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Financial News: Singapore Producer Price Inflation Increases In July

Singapore Producer Price Inflation Increases In July

08/27/2021 - 02:58:00 (RTTNews)

(RTTNews) - Singapore's producer price inflation increased in July, data from the Department of Statistics showed on Friday.

The manufacturing producer price index increased 11.6 percent year-on-year in July, following a 9.6 percent rise in June.

The oil index surged 6.0 percent annually in July and the non-oil indices rose 1.2 percent.

The Domestic Supply Price Index grew 17.0 percent year-on-year in July, following a 16.8 percent increase in June.

On a monthly basis, producer prices rose 2.6 percent in June, following a 2.4 percent increase in the preceding month.

Another report from the statistical office showed that the import prices gained 12.5 percent annually in July, following a 12.4 percent increase in the previous month.

On a month-on-month basis, import prices rose 2.0 in July, after a 2.1 percent gain in the prior month.

Data showed that export prices rose 13.0 percent yearly in July and grew 1.8 percent from a month ago.

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