29.08.202505:15:55UTC+00Singapore Producer Prices Fall at Slower Pace

In July 2025, Singapore witnessed a 2.4% year-on-year decrease in its Domestic Supply Price Index, indicating the fourth consecutive month of deflation. This contraction was, however, less severe compared to the 3.7% decline observed in June. The downward trend in prices decelerated for mineral fuels, lubricants, and related materials, which fell by 17%, an improvement from June's 18.3% decrease. Likewise, manufactured goods saw a slight reduction in their rate of price decline, from 2.8% to 2.7%.

Conversely, costs for animal and vegetable oils, fats, and waxes experienced a rebound, rising by 6.2% after a 4.5% fall previously recorded. Additionally, there was an acceleration in price increases for beverages and tobacco, which climbed by 0.9%, up from 0.6%. Crude materials rose by 4%, building on the previous increase of 2.8%, while machinery and transport equipment surged by 6.7%, up from 3.9%.

On the other hand, further declines were noted in chemical and chemical products, dropping by 9.6% following an 8.9% decrease in the prior month. Price growth slowed down for food and live animals, which rose by 0.8%, compared to the previous 2.1% increase, and for miscellaneous manufactured articles, with prices increasing by 9.7% versus a previous 10.9%. Stripping out oil and related products, the domestic supply price index was up by 3.5% from the same period last year. Month-on-month, the index decreased by 0.5%, reversing a 0.3% increase recorded in June.