Singapore’s producer prices continued to decline at the end of the year, figures from the Department of Statistics showed Friday.
The manufactured products price index fell 7.9 percent year-over-year in December, following a 7.8 percent drop in the previous month. Producer prices have been falling since May 2014.
The oil and non-oil indices dipped 29.7 percent and 3.5 percent, respectively.
In the whole year 2015, the overall manufactured products price index decreased 9.2 percent, much faster than the 3.4 percent fall in 2014.
The domestic supply price index plunged 11.1 percent in December from a year ago, after falling 13.0 percent in November.
Month-on-month, producer prices slipped 3.7 percent in December, extending the 0.2 percent drop seen in the preceding month. Domestic supply prices also went down 3.7 percent,faster than last month’s 1.2 percent dip.
In a separate report, the statistical office announced that import prices declined at a slower pace of 8.6 percent yearly in December, following a 10.1 percent decrease in November.
On a monthly basis, import prices slid 3.1 percent in December, which was worse than the 1.2 percent fall in the prior month.
The export price index also continued its downward trend in December. It fell 5.4 percent annually and dropped 2.1 percent from a month earlier.
The material has been provided by InstaForex Company – www.instaforex.com