Singapore Producer Prices Fall At Slower Rate In November

Singapore’s producer prices continued to decline in November, though at a slower pace than in the previous month, figures from the Department of Statistics showed Tuesday.

The manufactured products price index dipped 7.7 percent year-over-year in November, following a 8.7 percent decrease in October. Producer prices have been falling since May 2014.

The oil and non-oil indices fell 31.8 percent and 2.1 percent, respectively.

The domestic supply price index slipped 13.0 percent in November from a year ago, after a 14.2 percent slump in the preceding month.

On a monthly basis, producer prices edged down 0.1 percent in November, extending the 0.8 percent drop in October. Domestic supply prices also went down 1.1 percent, faster than prior month’s 0.2 percent fall.

In an another report, the statistical office announced that import prices slid 10.1 percent annually in November, continuing the 11.2 percent decline in the previous month.

Month-on-month , import price index dropped 1.1 percent in November, which was worse than the 0.4 percent decrease a month earlier.

The export price index also continued its downward trend in November. It fell 6.6 percent yearly and declined 0.6 percent from the prior month.

The material has been provided by InstaForex Company –