Singapore’s producer prices declined at a slower pace in February, figures from the Department of Statistics showed Friday.

The manufactured products price index fell 11.8 percent year-over-year in February, slower than January’s 13.1 percent sharp decrease. Producer prices have been falling since May last year.

Domestic supply prices also dropped at a slower pace of 16.7 percent in February from the previous year, following a 20.9 percent decline in the prior month. It was the eighth consecutive monthly fall.

On a monthly basis, producer prices rose 2.4 percent in February, reversing a 3.4 percent drop in the previous month.

The domestic supply price index climbed 5.3 percent monthly in February, in contrast to a 6.3 percent decrease in January.

In a separate report, the statistical office released the import price index figures for the month of February.

Import prices slid 13.8 percent yearly in February, slower than 17.4 percent fall registered in the preceding month. Prices have been falling since June last year.

Exports prices declined at a slower pace in February. It dropped 7.5 percent from the previous year, following a 10.0 percent decrease in January.

Month-on-month, both import prices and export prices increased by 4.5 percent and 2.7 percent, respectively in February.

The material has been provided by InstaForex Company –