Singapore Producer Prices Fall for 2nd Month

Singapore’s Domestic Supply Price Index dropped by 6% year-on-year in January 2026, slipping further from a downwardly revised 2.6% fall in the previous month. This marked the second consecutive month decline, driven by sharper decreases in costs for mineral fuels (-16.7% vs -11.7% in December), chemicals and chemical products (-9.1% vs -8%), and food and live animals (-2.2% vs -0.6%). Prices also fell for machinery and transport equipment (-3.9% vs 0.1%) and animal and vegetable oils, fats and waxes (-1.2% vs 2.1%), while inflation softened for beverages and tobacco (3.7% vs 4.2%). On the other hand, costs continued to increase for miscellaneous manufactured articles (14.8% vs 15.8%), crude materials (4.2% vs 3.7%), and manufactured goods (0.9% vs 0%). On a monthly basis, the Domestic Supply Price Index fell by 0.1% in January, easing from a slightly downwardly revised 1.6% decline in December.

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.