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Singapore Producer Price Inflation Slows In March

Singapore's producer price inflation eased in March, data from the Department of Statistics showed on Thursday.

The manufacturing producer price index increased 2.4 percent year-on-year in March, after a 3.5 percent decline in February.

The oil index surged 58.5 percent annually in March, while the non-oil indices fell 2.5 percent.

The Domestic Supply Price Index grew 9.6 percent year-on-year in March, after a 0.7 percent decrease in February.

On a monthly basis, producer prices rose 3.7 percent in March, following a 1.6 percent increase in the preceding month.

Another report from the statistical office showed that the import prices gained 8.3 percent annually in March, following a 0.7 percent increase in the previous month.

On a month-on-month basis, import prices increased 2.0 percent in March, after a 2.7 percent gain in the prior month.

Data showed that export prices accelerated 3.5 percent yearly in March and grew 2.0 percent from a month ago.

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