Singapore’s producer prices continued to decline in September, though at a slower pace than in the previous month, figures from the Department of Statistics showed Thursday.
The manufactured products price index fell 8.7 percent year-over-year in September, extending the 9.7 percent decrease in August. Producer prices have been falling since May 2014.
The oil index plunged 47.6 percent, while the non-oil index increased 1.9 percent.
The domestic supply price index also tumbled in September. It dipped 17.2 percent from a year ago after a 17.3 percent drop in the prior month.
On a monthly basis, producer prices rose 0.3 percent in September, reversing a 1.9 percent fall in the preceding month. Domestic supply prices slipped 0.7 percent, much slower than the 3.0 percent decline in August.
In an another report, the statistical office announced that import prices dipped at a slower pace of 13.6 percent annually in September, following a 14.2 percent decrease in the previous month.
Monthly, import prices edged down 0.1 percent in September after a 1.8 percent drop a month earlier.
The export price index also continued its downward trend in September. It slid 7.1 percent from the preceding year and went down 0.7 percent from August.
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