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Singapore Producer Price Inflation Rises In February


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Singapore’s producer price inflation increased marginally in February, data from the Department of Statistics showed on Tuesday.

The manufacturing producer price index rose 18.1 percent year-on-year in February, following an 18.0 percent increase in January.

The oil index surged 53.0 percent annually in February and the non-oil indexes increased 13.4 percent.

The Domestic Supply Price Index grew 22.4 percent year-on-year in February, after a 22.7 percent rise in December.

On a monthly basis, producer prices rose 1.7 percent in February, following a 1.1 percent increase in the preceding month.

Another report from the statistical office showed that the import prices rose 16.2 percent annually in February, following a 15.6 percent growth in the previous month.

On a month-on-month basis, import prices increased 3.2 percent in February, following a 2.8 percent gain in the prior month.

Data showed that export prices gained 19.3 percent yearly in February and rose 1.2 percent from a month ago.

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