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Financial News: Singapore Producer Prices Decline Slows In December

Singapore Producer Prices Decline Slows In December

01/29/2021 - 03:28:00 (RTTNews)

(RTTNews) - Singapore's producer prices declined at a softer pace in December, data from the Department of Statistics showed on Friday.

The manufacturing producer price index fell 7.9 percent year-on-year in December, following an 8.8 percent decline in November.

The oil index declined 26.9 percent annually in December, and the non-oil indices fell 5.2 percent.

The Domestic Supply Price Index declined 6.9 percent year-on-year in December, after a 9.4 percent decrease in November.

On a monthly basis, producer prices rose 0.8 percent in December, after a 1.6 percent decrease in the preceding month.

Another report from the statistical office showed that the import prices fell 3.5 percent annually in December, following a 5.8 percent decrease in the previous month.

On a month-on-month basis, import prices increased 1.6 percent in December, after a 0.8 percent fall in the prior month.

Data showed that export prices declined 6.0 percent yearly in December and rose 0.8 percent from a month ago.

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