Singapore’s producer price inflation accelerated further in June amid an increase in both the oil and the non-oil index, data from the Department of Statistics showed.
The manufacturing producer price index climbed 4.4 percent year-on-year in June, faster than May’s 3.5 percent rise. Prices have been rising since December last year.
The non-oil index rose 7.3 percent annually in April, and the oil index showed an increase of 3.9 percent.
Domestic supply prices were 4.3 percent higher in June than a year ago, following a 2.7 percent increase in the prior month.
On a monthly basis, producer prices moved up 0.4 percent in June, reversing a 0.8 percent fall in May.
The import price index fell at a slower pace of 0.2 percent over the year, following a 1.5 percent decrease in the previous month.
Data showed that export prices declined 0.3 percent annually in June, after a 0.2 percent drop a month ago.
Source: RTT NEWS
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