Singapore’s producer prices declined at a softer pace in February, data from the Department of Statistics showed on Monday.

The manufacturing producer price index decreased 3.2 percent year-on-year in February, following an 5.1 percent decline in January.

The oil index grew 5.6 percent annually in February, while the non-oil indices fell 4.3 percent.

The Domestic Supply Price Index declined 0.7 percent year-on-year in February, following a 4.6 percent decrease in January.

On a monthly basis, producer prices rose 1.9 percent in February, following a 1.8 percent increase in the preceding month.

Another report from the statistical office showed that the import prices fell 3.5 percent annually in December, following a 5.8 percent decrease in the previous month.

On a month-on-month basis, import prices increased 2.8 percent in February, following a 1.9 percent gain in the prior month.

Data showed that export prices declined 1.9 percent yearly in February and grew 2.9 percent from a month ago.

The material has been provided by InstaForex Company – www.instaforex.com

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