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Financial News: Singapore Producer Price Inflation Slows In May

Singapore Producer Price Inflation Slows In May

06/29/2021 - 03:18:00 (RTTNews)

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

The manufacturing producer price index increased 9.2 percent year-on-year in May, after a 9.4 percent rise in April.

The oil index surged 94.5 percent annually in May and the non-oil indices rose 2.9 percent.

The Domestic Supply Price Index grew 18.1 percent year-on-year in May, following a 17.8 percent increase in April.

On a monthly basis, producer prices rose 1.0 percent in May, after a 0.1 percent decrease in the preceding month.

Another report from the statistical office showed that the import prices gained 13.9 percent annually in May, following a 12.8 percent increase in the previous month.

On a month-on-month basis, import prices rose 0.7 in May, after a 0.5 percent gain in the prior month.

Data showed that export prices remained unchanged at 9.6 percent yearly in May and grew 0.2 percent from a month ago.

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