Singapore's Export Price Index fell 6.2% year on year in January, following a 4.9% decrease in the preceding month, as the Non-Oil Index slipped 3.3%, while the Oil Index dropped 18.2% on year during the month, the city-state's Department of Statistics reported Friday.

Meanwhile, the Import Price Index fell 3.7% year on year in January, following a 3.3% decline in the preceding month.

Non-Oil inched up 0.3% and the Oil Index dipped 17% on year, the data showed.

On a month-on-month basis, the Export Price Index fell 0.6%, while the Import Price Index rose 0.3%, following a 1.3% decrease in the previous month, the data showed.