SINGAPORE, Oct. 29 (Xinhua) -- Singapore's import and export prices rose at a faster pace in September, driven mainly by higher oil and petroleum product prices, official data showed on Thursday.
The Import Price Index (IPI) increased 4.7 percent month on month in September, accelerating from 1.6 percent in August and marking its third consecutive monthly gain, the Department of Statistics said in a statement.
The oil index surged 16.1 percent, compared with the 4.8 percent increase in August, while the non-oil index rose 0.2 percent.
Year on year, the IPI climbed 19.9 percent, up from 15.5 percent in August. The oil index jumped 78.5 percent, while the non-oil index rose 4.4 percent.
Meanwhile, the Export Price Index (EPI) rose 3.6 percent month on month, compared with 1.9 percent in August. Its oil index increased 12.7 percent, while the non-oil index rose 0.9 percent.
Year on year, the EPI gained 19.4 percent, up from 15.2 percent in August. The oil index surged 69.9 percent, while the non-oil index increased 8.3 percent.
The increases in the non-oil indices were mainly driven by higher prices of electrical machinery apparatus, including electronic integrated circuits, the department said. ■