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Singapore Producer Price Inflation Rises In February

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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