Economic Buzz: Singapore producer price inflation rises in September

Singapore's producer prices increased for the third straight month in September and at an accelerated pace, data from the Department of Statistics showed on Wednesday.

The manufacturing producer price index climbed 7.3 percent year over year in September, faster than the 6.0 percent rise in August.

The non-oil index surged 8.5 percent annually in September, led by the machinery and transport equipment index amid higher prices of miscellaneous manufactured articles, food and live animals, animal and vegetable oils, and beverages and tobacco. Meanwhile, the non-oil index rose only 0.2 percent.

Domestic supply prices were 3.7 percent higher in September than a year ago, after a 1.1 percent increase in the prior month.

On a monthly basis, producer prices remained flat in September versus a 0.9 percent gain in August.

The import price index decreased 0.6 percent over the year, following a 3.8 percent drop in the previous month. Data showed that the annual decline in export prices moderated to 3.3 percent from 5.4 percent.

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