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Financial News: Singapore Producer Price Inflation Increases In October

Singapore Producer Price Inflation Increases In October

11/29/2021 - 02:19:00 (RTTNews)

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

The manufacturing producer price index increased 16.3 percent year-on-year in October, following a 14.4 percent rise in September.

The oil index surged 99.5 percent annually in October and the non-oil indices rose 8.3 percent.

The Domestic Supply Price Index grew 25.4 percent year-on-year in October, following a 21.3 percent increase in September.

On a monthly basis, producer prices rose 2.2 percent in October, following a 1.0 percent increase in the preceding month.

Another report from the statistical office showed that the import prices gained 20.0 percent annually in October, following a 16.3 percent increase in the previous month.

On a month-on-month basis, import prices rose 3.0 in October, after a 1.8 percent gain in the prior month.

Data showed that export prices rose 20.7 percent yearly in October and grew 2.3 percent from a month ago.

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