logo
Plus   Neg
Share
Email

Singapore Producer Prices Decline At Faster Pace

Singapore producer prices declined at a faster pace in August on a sharp fall in oil cost, data from the Department of Statistics showed Tuesday.

Producer prices decreased 9.3 percent on a yearly basis in August, following a 6.4 percent drop in July. Oil and non-oil indices were down 35.6 percent and 5.4 percent, respectively.

Month-on-month, producer prices dropped 1.2 percent versus a 0.1 percent fall in July.

Another report from the statistical office showed that import prices slid 6.8 percent annually, extending the 7.3 percent fall in July. The oil index dropped 25.3 percent and non-oil prices slid 1.1 percent.

On a monthly basis, import prices fell 0.1 percent, in contrast to the 1.9 percent rise in July.

Data showed that export prices decreased 0.6 percent on month taking the annual fall to 8.2 percent in August.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT