Singapore PPI Decline Worsens In April

(RTTNews) - Singapore's producer prices declined at a faster pace in April, figures from the Department of Statistics showed Friday.

The manufactured product price index fell 11.7 percent year-over-year in April, following a 6.7 percent decrease in the previous month. Producer prices have been falling since May 2014.

The oil and non-oil indices plunged 31.5 percent and 3.2 percent, respectively.

On a monthly basis, producer prices slid 5.1 percent in April, reversing a 2.9 percent rise in March. The oil index climbed a further 2.3 percent from the 10.0 percent spike in the previous month, due to higher prices of diesel fuel and naphtha.

Import prices declined at a stable pace by 10.2 percent in April from a year ago. Month-on-month, import prices remained unchanged after the 0.8 percent increase in March.

The export price index also continued its downward trend in April. It dropped 8.2 percent from the preceding year and fell 0.8 percent from the preceding month.