29.05.201703:19:00UTC+00Singapore Producer Price Inflation Accelerates In April

Singapore's producer price inflation accelerated notably on oil prices in April, figures from the Department of Statistics showed Monday.

Producer price inflation rose to 7.6 percent in April from 3.9 percent in March. Oil prices surged 35.9 percent and non-oil prices climbed 3.7 percent.

However, on a monthly basis, producer prices fell 0.6 percent in April, following a 0.7 percent decrease in March.

Another report from the statistical office showed that import price inflation rose to 9.4 percent in April from 8.6 percent in March. The oil and non-oil indices advanced 45 percent and 2.3 percent, respectively.

Month-on-month, import prices moved up 0.8 percent, reversing a 2.1 percent drop in March.

At the same time, the export price index gained 5.6 percent annually, faster than March's 5 percent increase. On a monthly basis, export prices slid 0.4 percent, following a 1.6 percent decrease.