29.11.202305:58:00UTC+00Singapore Producer Prices Fall 4.6%, Most In 3 Months

Singapore's producer prices declined at the fastest pace in three months amid a decline in the oil and non-oil index, data from the Department of Statistics showed on Wednesday.

The manufacturing producer price index fell 4.6 percent year-on-year in October, faster than the 2.9 percent fall in the prior month.

The oil index dropped 5.9 percent annually in October, and the non-oil index showed a decrease of 4.3 percent.

Domestic supply prices were 2.2 percent lower in October than a year ago, after a 0.5 percent decline in the prior month.

On a monthly basis, producer prices dropped 2.1 percent in October versus a 2.7 percent rise in September.

The import price index fell 0.5 percent over the year, in contrast to a 0.8 percent increase in the previous month.?

Data showed that export prices fell at a faster rate of 3.0 percent annually in October, following a 2.6 percent drop a month ago.