Singapore producer prices fall for fourth month in November

Producer prices in Singapore have dropped 3% year-on-year in November, the latest data by Statistics Singapore showed. It has been a fourth straight month of decline in domestic supply prices.

Still, November’s drop was slower compared to that recorded in October (-5.1% YoY).

In November, prices went down at a slower rate for:

– mineral fuels, lubricants and related materials (-10.2% YoY versus -14.3% YoY in October);
– chemicals and chemical products (-4.3% YoY versus -6.7% YoY in October);
– manufactured goods (-2% YoY versus -3.3% YoY in October);
– miscellaneous manufactured articles (-3.6% YoY versus -5.3% YoY in October).

And, prices rose for:

– food and live animals (4.5% YoY after a 2.8% YoY gain in October);
– machinery and transport equipment (1.5% YoY after a 0.2% YoY drop in October).

The USD/SGD currency pair settled with little change at 1.3577 on Friday. For the week, the exotic currency pair went up 0.25%.