29.12.201700:29:00UTC+00Singapore PPI Inflation Rises On Oil Prices In November

Singapore's producer price inflation accelerated on oil prices in November, Statistics Singapore reported Friday.

Producer price inflation rose to 2.8 percent in November from 2.1 percent in October. The oil index surged 23.6 percent, while non-oil prices fell 0.6 percent.

Month-on-month, producer prices advanced 1 percent, following October's 0.1 percent rise.

Another report from the statistical office showed that import price inflation increased to 4 percent in November from 3.4 percent in October.

Import prices logged a monthly growth of 1.4 percent versus 1.3 percent increase in October.

Meanwhile, export price inflation eased to 0.8 percent in November from 1.1 percent in the previous month. The oil index grew sharply by 25 percent on year. On the other hand, the non-oil index slid 3.5 percent.

On a monthly basis, export prices gained 0.6 percent, slower than the 1.2 percent increase seen in October.