Singapore's manufactured products price index up 2.1% in October

The price of oil jumped 12.9%.

The Singapore Department of Statistics (SingStat) revealed that the manufactured products price index (SMPPI) rose by 2.1% YoY in October.

The oil and non-oil indices went up by 12.9% and 0.2%, respectively.

Amongst the non-oil sub-indices, five commodities recorded higher prices.

Prices of chemicals & chemical products rose 4.9%, miscellaneous manufactured articles jumped 4.7%, manufactured goods increased 3.6%, animal & vegetable oils rose 1.9%, and crude materials went up 0.9%.

These were partially moderated by lower prices of three commodities. Beverages & tobacco fell 4.4%, machinery & transport equipment wore down 3.5%, whilst food & live animals dropped 1.7%.

The SMPPI edged up 0.1% MoM in October, compared to the 1.5% increase in September.

The SMPPI monitors price changes of locally manufactured commodities. The weights of the index are derived from the distribution of local production by commodity in 2011.