Import prices jump 11.1% in March on oil-driven gains
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The Import Price Index (IPI) in Singapore rose 11.1% YoY in March, reversing a previous decline, driven by a 41.5% increase in oil prices. Month-on-month, import prices increased by 11.2%. The Export Price Index (EPI) also saw an 8.4% YoY rise, supported by a 44.5% surge in the oil index. However, gains in export prices were offset by declines in various sectors, including food and chemicals.
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