COTD: Import price index slips 0.8% YoY in July

Non-oil index also fell 3.3% YoY.

The import price index fell 0.8% year-on-year (YoY) in July from a year ago, following the 0.5% decrease in June, SingStat reported.

The oil index rose 8.2% YoY whilst the non-oil index fell 3.3% YoY.

The decreases in the non-oil sub-indices were mainly driven by the machinery & transport equipment index, with lower prices of electrical machinery apparatus, followed by the manufactured goods, beverages & tobacco, crude materials, and animal & vegetable oils indices.

The decreases were partially offset by increases in the miscellaneous manufactured articles and food & live animals indices.

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