Singapore's import prices continued to decline in November, figures from the Department of Statistics showed Monday.
The import price index plunged 7.8 percent year-on-year in November, much faster than the 5.4 percent drop registered in the previous month. This was the sixth successive annual decline.
The oil index plunged 23.5 percent annually in November, while the non-oil index remained unchanged.
Month-on-month, import prices fell 2.4 percent in November, slower than the 3.1 percent drop in October.
Meanwhile, export prices decreased 3.1 percent yearly in November, after a 3.3 percent drop seen in the prior month. Export prices have been falling since February.
The oil index dropped 16.6 percent, while the non-oil index rose 1.5 percent.
On a monthly basis, the export price index remained unchanged in November, following a 1.7 percent decrease in the preceding month.
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