Singapore Producer Price Inflation Moderates

(RTTNews) - Singapore's producer prices continued to increase in November but the pace of growth softened for the second straight month, the Department of Statistics said on Monday.

Producer prices climbed 5.0 percent on a yearly basis in November, slower than the 7.1 percent increase seen in October. This marked the fifth consecutive increase.

The oil index declined 4.3 percent compared to the prior year, while the non-oil index grew 6.6 percent in November.

Another data showed that import prices declined at a slower pace in November. The import price index slid 1.2 percent year-on-year, following the 2.4 percent decrease in October.

The oil index dropped 7.7 percent mainly due to lower petroleum prices, while the non-oil index grew 0.6 percent.

On a monthly basis, import prices moved up 1.1 percent, in contrast to the 0.7 percent decrease in October.