Singapore's import prices declined in June, reflecting sharp contraction in oil prices, the Department of Statistics said Friday.
Import prices were down 1.5 percent year-on-year in June, reversing a 0.3 percent rise in May. On a monthly basis, import prices eased 2.2 percent after logging a 2 percent fall in the preceding month.
The oil index fell 7.8 percent from a year ago, while the non-oil index rose 0.7 percent.
At the same time, the export price index dropped 2.1 percent annually, larger than the 0.5 percent drop in June. Compared to the prior month, the index slid 2.1 percent.
by RTT Staff Writer
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