Singapore Producer Prices Continue To Fall In November

(RTTNews) - Singapore's producer prices declined for the tenth successive month in November, largely driven by a sharp fall in the oil index, data from the Department of Statistics showed on Friday.

The manufacturing producer price index fell at a stable rate of 4.5 percent year-on-year in November.

The oil index plunged 7.8 percent annually in November, and the non-oil index showed a decrease of 3.9 percent.

Domestic supply prices were 2.8 percent lower in November than a year ago, after a 2.3 percent decline in the prior month.

On a monthly basis, producer prices dropped 2.5 percent in November versus a 1.4 percent fall in September.

The import price index dropped 1.0 percent over the year, following a 0.6 percent decrease in the previous month.

Data showed that export prices fell at a faster rate of 2.3 percent annually in November, which was worse than the 1.1 percent drop a month ago.