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Singapore Producer Prices Decline Slows In May

Singapore's producer prices declined at a softer rate in May, data from the Department of Statistics showed on Monday.

The manufacturing producer price index fell 8.4 percent year-on-year in May, following an 8.9 percent decline in April.

The oil index declined 55.1 percent annually in May, and non-oil indices fell 0.7 percent.

On a monthly basis, producer prices rose 1.2 percent in May, after a 4.7 percent decrease in the preceding month.

Another report from the statistical office showed that the import prices fell 12.7 percent annually in May, same as seen in the previous month.

On a month-on-month basis, import prices rose 0.2 percent in May, after a 4.4 percent decrease in the prior month.

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