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Financial News: Singapore Producer Price Inflation Surges In April

Singapore Producer Price Inflation Surges In April

05/28/2021 - 05:11:00 (RTTNews)

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

The manufacturing producer price index increased 8.8 percent year-on-year in April, following a 2.4 percent rise in March.

The oil index surged 121.8 percent annually in April and the non-oil indices rose 1.7 percent.

The Domestic Supply Price Index grew 17.9 percent year-on-year in April, following a 9.7 percent increase in March.

On a monthly basis, producer prices rose 1.2 percent in April, after a 3.7 percent increase in the preceding month.

Another report from the statistical office showed that the import prices gained 13.0 percent annually in April, following a 8.4 percent increase in the previous month.

On a month-on-month basis, import prices fell 0.4 in April, after a 2.0 percent gain in the prior month.

Data showed that export prices accelerated 8.3 percent yearly in April and grew 0.9 percent from a month ago

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