FX.co ★ Singapore Producer Price Inflation Accelerates

In April, Singapore's producer price inflation saw an uptick, driven by increases in both the oil and non-oil indices, according to data released by the Department of Statistics on Wednesday.

The manufacturing producer price index rose 3.2 percent year-on-year in April, a faster pace compared to the 2.3 percent increase recorded in March.

The non-oil index experienced a 2.8 percent annual rise in April, while the oil index surged by 5.4 percent.

Domestic supply prices were 0.1 percent lower in April compared to the same period last year, following a 2.0 percent decline in the previous month.

On a monthly basis, producer prices maintained a steady growth rate of 0.3 percent.

The import price index decreased by 1.7 percent over the year, a slower decline compared to the 4.0 percent reduction seen in the prior month.

Export prices fell by 0.5 percent annually in April, which was a more modest decrease than the 2.2 percent drop observed in the preceding month.