Singapore’s producer prices declined at a faster rate in March, data from the Department of Statistics showed on Wednesday.
The manufactured products price index fell 5.6 percent year-on-year in March, following a 2.1 percent decline in February.
The oil index fell 45.1 percent annually in March, while non-oil index rose 0.7 percent.
On a monthly basis, producer prices fell 2.1 percent in March, following a 0.1 percent decrease in the preceding month.
Another report from the statistical office showed that the import prices fell 8.3 percent annually in March, following a 1.6 percent decrease in the previous month.
On a month-on-month basis, import prices dropped 5.6 percent in March, after a 0.1 percent increase in the prior month.