Singapore Producer Inflation Accelerates in July

Singapore’s domestic supply price index climbed 33.4% year-on-year in July 2026, accelerating from a downwardly revised 29.8% increase in the previous month. The increase was mainly driven by higher prices for mineral fuels, lubricants and related materials (46.4% vs 44.3%), machinery and transport equipment (42.3% vs 35.1%), and manufactured goods (5.0% vs 5.8%). The non-oil domestic supply price index also rose to 29.3% from 25.2%. On the other hand, price growth eased for chemicals and chemical products (11.1% vs 13.4%) and crude materials (19.4% vs 19.5%). Prices for food and live animals fell 1.2%, narrowing from a 1.8% decline in June. On a monthly basis, the domestic supply price index rose by 2.3% in July, rebounding from an upwardly revised 3% drop in the preceding period.

Singapore’s domestic supply price index climbed 30.3% year-on-year in June 2026, slowing from a downwardly revised 34.1% jump in the previous month. The slowdown is largely driven by moderating costs for mineral fuels, lubricants and related materials (46.9% vs 76.7% in May), crude materials (13.0% vs 13.3%), and chemical and chemical products (13.4% vs 21.5%). Meanwhile, price growth increased for machinery and transport equipment (35.1% vs 27.5%) and manufactured goods (5.7% vs 5.4%). On the other hand, prices declined for food and live animals, down 1.9% after a 2.5% drop in the prior month. On a monthly basis, the domestic supply price index fell 2.5% in June, marking its second monthly decline of the year and a steeper decrease than the 2.0% drop recorded in the last month.

Singapore’s domestic supply price index climbed 34.2% year-on-year in May 2026 from an upwardly revised 32.1% jump in the previous month. This marked the highest reading since records began in January 1975, driven largely by sharply higher costs for mineral fuels, lubricants and related materials (77.2% vs 81.1% in April), machinery and transport equipment (27.6% vs 20.4%), and chemical and chemical products (21.5% vs 21.3%). Producer inflation also increased for crude materials excluding fuels (12.9% vs 10.3%) and miscellaneous manufactured articles (7.7% vs 7.1%). On the other hand, prices declined for food and live animals, down 2.6% after a 3.2% drop in the prior month. On a monthly basis, producer prices decreased by 1.9% in May, marking the first month of decline this year and reversing a 3.4% gain in the preceding period.