FX.co ★ Singapore Producer Price Inflation Accelerates In June

Singapore's producer price inflation saw further acceleration in June, driven by increases in both the oil and non-oil indices, according to data released by the Department of Statistics on Monday.

The manufacturing producer price index rose by 4.4 percent year-on-year in June, marking an increase from May's 3.5 percent rise. This marks a continuation of the upward trend observed since December last year.

In specific terms, the non-oil index advanced by 7.3 percent annually in April, while the oil index recorded a 3.9 percent increase.

Domestic supply prices were up by 4.3 percent in June compared to the same month in the previous year, after experiencing a 2.7 percent rise in May.

On a month-to-month basis, producer prices edged up by 0.4 percent in June, reversing the 0.8 percent decline seen in May.

The import price index decreased by 0.2 percent year-on-year, which is a slower decline compared to the 1.5 percent drop recorded in the previous month.

Export prices experienced a 0.3 percent annual decline in June, following a 0.2 percent decrease in May.