Singapore Producer Price Inflation Eases To 6.9%

(RTTNews) - Singapore's producer prices increased for the fourth straight month in October, though the pace of growth eased slightly, data from the Department of Statistics showed on Friday.

The manufacturing price index for producers climbed 6.9 percent year-on-year in October, slower than the 7.3 percent rise in September.

The non-oil index grew 8.8 percent annually in October, led by the machinery and transport equipment index and higher prices for miscellaneous manufactured articles, food and live animals, and animal and vegetable oils. Meanwhile, the non-oil index dropped 3.6 percent.

Domestic supply prices were 2.9 percent higher in October than a year ago, after a 3.7 percent increase in the prior month.

On a monthly basis, producer prices climbed 1.2 percent in October versus a flat change in September.

The import price index decreased 2.4 percent over the year, following a 1.1 percent drop in the previous month. Data showed that the annual decline in export prices deepened to 3.7 percent from 3.2 percent.