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Singapore Producer Prices Decline Slows In October

Singapore's producer prices declined at a softer pace in October, data from the Department of Statistics showed on Friday.

The manufacturing producer price index fell 8.3 percent year-on-year in October, following an 9.8 percent decline in September.

The oil index declined 37.8 percent annually in October, and non-oil indices fell 4.0 percent.

The Domestic Supply Price Index declined 9.6 percent year-on-year in October, after a 10.5 percent decrease in September.

On a monthly basis, producer prices rose 0.5 percent in October, following a 0.1 percent increase in the preceding month.

Another report from the statistical office showed that the import prices fell 7.6 percent annually in October, following a 8.1 percent decrease in the previous month.

On a month-on-month basis, import prices decreased 0.1 percent in October, following a 1.1 percent fall in the prior month.

Data showed that export prices declined 8.0 percent yearly in October and fell 0.5 percent from a month ago.

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