Singapore's producer prices declined for the seventh straight month in November, figures from the Department of Statistics showed Monday.
The manufactured producer price index dropped 6.4 percent year-on-year in November, faster than the 6.0 percent fall in the previous month. Producer prices have been falling since May. The oil and non-oil indices plunged 18.2 percent and 3.2 percent, respectively.
Domestic supply prices also declined at a faster pace, by 9.6 percent annually in November, faster than the 7.3 percent fall in October. It was the fifth consecutive monthly decline.
On a monthly basis, producer prices slid 1.2 percent in November after a 0.9 percent drop in the prior month. The oil index fell 5.2 percent in November, slower than October's 8.5 percent decrease.
At the same time, the non-oil index dropped 0.3 percent in November, in contrast to a 1.2 percent rise in the preceding month. Domestic supply prices also showed its downward trend and fell 2.6 percent, following a 3.6 percent fall in the previous month.
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