The Domestic Supply Price Index in Singapore increased 12.4 percent from a year earlier in October 2018, accelerating from a 12.1 percent gain in the previous month, as prices went up faster for oil (42.5 percent vs 40.8 percent in September) while non-oil sectors prices continued to rise (1.7 percent vs 2.1 percent). Among the non-oil sub-indices, prices increased more than in a month earlier for beverages & tobacco (1.8 percent vs 1.2 percent) and crude materials (1.0 percent vs 0.8 percent). Additionally, prices rebounded for both food & live animals (0.3 percent vs -0.4 percent) and miscellaneous manufactured articles (0.2 percent vs -0.4 percent). On the other hand, prices went up softer for chemicals & chemical products (7.4 percent vs 7.6 percent); manufactured goods (2.9 percent vs 4.1 percent) and machinery & transport equipment (0.3 percent vs 0.9 percent). By contrast, prices fell for animal & vegetable oils (-14.3 percent vs -12.9 percent). Producer Prices Change in Singapore averaged 0.78 percent from 1975 until 2018, reaching an all time high of 29.27 percent in March of 1980 and a record low of -22.20 percent in July of 2009.
Producer Prices Change in Singapore is expected to be 13.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Singapore to stand at 7.00 in 12 months time. In the long-term, the Singapore Producer Prices Change is projected to trend around 11.50 percent in 2020, according to our econometric models.