Singapore Producer Prices Fall For 1st Time in 5 Months

Singapore’s Domestic Supply Price Index dropped by 3.3% year-on-year in December 2025, reversing an upwardly revised 2.8% increase in the previous month. This marked the first decline in producer prices in five months and the sharpest since June, driven by sharp decreases in costs for mineral fuels (-11.7% vs -4.9% in November), chemicals and chemical products (-7.9% vs -6.9%), and machinery and transport equipment (-1.4% vs 7.8%). At the same time, producer inflation softened for animal and vegetable oils, fats and waxes (2.1% vs 8%) and miscellaneous manufactured articles (15.8% vs 16.1%). In contrast, prices continued to increase for beverages and tobacco (4.2% vs 3.5%) and crude materials (4% vs 2.3%). On a monthly basis, the Domestic Supply Price Index fell by 1.7% in December, slipping from an upwardly revised 0.6% gain in the preceding period.

Singapore’s Domestic Supply Price Index increased by 2.2% year-on-year in November 2025, slowing from an upwardly revised 3.1% growth in the previous month. This marked the fourth consecutive month of producer inflation, but the softest pace since August, due to moderations in prices of food and live animals (0.9% vs 1.2% in October), machinery and transport equipment (7.8% vs 11.0%), and manufactured goods (0.1% vs 0.6%). Meanwhile, costs accelerated for beverages and tobacco (3.5% vs 3.1%), miscellaneous manufactured articles (16.3% vs 15.4%), and animal and vegetable oils, fats & waxes (8.0% vs 2.1%), while rebounding for crude materials excluding fuels (2.9% vs -0.3%). By contrast, costs continued to fall for mineral fuels, lubricants and related materials (-7.2% vs -9.0%) and chemicals and chemical products (-6.9% vs -6.2%). On a monthly basis, the Domestic Supply Price Index was unchanged, after an upwardly revised 0.5% rise in the preceding period.

Singapore’s Domestic Supply Price Index grew by 2.9% year-on-year in October 2025, easing from a 3.7% gain in the previous month. This marked the third consecutive month of producer inflation, albeit at a softer pace, as costs moderated for food and live animals (1.1% vs 1.2% in September). At the same time, prices fell for crude materials excluding fuels (-0.3% vs 2.9%), and declined further for mineral fuels, lubricants, and related materials (-9.0% vs -4.9%) as well as chemicals and chemical products (-6.3% vs -5.7%). In contrast, costs rose for beverages and tobacco (3.3% vs 2.2%), miscellaneous manufactured articles (15.1% vs 13.8%), and machinery and transport equipment (10.7% vs 10.1%), while prices recovered for manufactured goods (0.6% vs -0.4%). On a monthly basis, the Domestic Supply Price Index increased by 0.3%, slowing from a 0.6% growth in the preceding period.