Financial News: Singapore Producer Prices Continue To Fall In September

Singapore Producer Prices Continue To Fall In September

10/27/2023 - 03:13:00 (RTTNews)

(RTTNews) - Singapore's producer prices decreased for the eighth straight month in September amid a decline in the non-oil index, data from the Department of Statistics showed on Friday.

The manufacturing producer price index fell 2.9 percent year-on-year in September, slower than the 3.9 percent fall in the prior month.

The non-oil index dropped 3.8 percent annually in September, while the oil index showed an increase of 1.9 percent.

Domestic supply prices were 0.4 percent lower in September than a year ago, after a 3.6 percent decline in the prior month.

On a monthly basis, producer prices moved up 1.0 percent in September versus a 2.7 percent rise in the previous month.

The import price index climbed 0.7 percent over the year, in contrast to a 2.7 percent decline in the previous month. It was the first rise in nine months.

Data showed that export prices fell at a slower rate of 2.6 percent annually in September, following a 6.0 percent drop a month ago.

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