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Financial News: Singapore Producer Price Inflation Slows In March

Singapore Producer Price Inflation Slows In March

04/29/2021 - 03:23:00 (RTTNews)

(RTTNews) - Singapore's producer price inflation eased in March, data from the Department of Statistics showed on Thursday.

The manufacturing producer price index increased 2.4 percent year-on-year in March, after a 3.5 percent decline in February.

The oil index surged 58.5 percent annually in March, while the non-oil indices fell 2.5 percent.

The Domestic Supply Price Index grew 9.6 percent year-on-year in March, after a 0.7 percent decrease in February.

On a monthly basis, producer prices rose 3.7 percent in March, following a 1.6 percent increase in the preceding month.

Another report from the statistical office showed that the import prices gained 8.3 percent annually in March, following a 0.7 percent increase in the previous month.

On a month-on-month basis, import prices increased 2.0 percent in March, after a 2.7 percent gain in the prior month.

Data showed that export prices accelerated 3.5 percent yearly in March and grew 2.0 percent from a month ago.

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