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Singapore Producer Prices Fall For Seventh Month

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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