Producer costs of Singapore's manufactured products continued to decline in May, albeit at a slower pace than in April, the latest figures from the Department of Statistics revealed Friday.
The manufactured products price index fell 5.3 percent year-on-year in May, following a 7.7 percent decline in April. Prices have fallen in every month since August 2012.
Factory prices of both non-oil and oil products declined during the month. Month-on-month, the overall producer price index rose 0.4 percent in May.
Domestic supply price index fell 5 percent in May from a year earlier, but remained unchanged compared to April.
The statistical agency also reported that Singapore's import price index fell 4.9 percent year-on-year in May and was down 0.3 percent on a month-on-month basis.
Export prices declined 5.4 percent annually during the month. Compared to April, prices fell 0.4 percent.
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