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Singapore Producer Prices Rise In January

Singapore's producer prices rose in January, data from the Department of Statistics showed on Friday.

The manufactured producer price index rose 0.1 percent year-on-year in January, after a 1.2 percent decline in December.

The oil index grew 3.7 percent annually in January, while the non-oil index fell 0.4 percent. The prices of crude materials dropped by 6.4 percent.

On a monthly basis, producer prices rose 0.2 percent in January, reversing a 0.2 percent decrease in the preceding month.

Another report from the statistical office showed that the import prices declined 0.8 percent annually in January, following a 2.5 percent decrease in December.

On a month-on-month basis, import prices rose 0.3 percent in January, after a 0.8 percent decrease in the prior month.