2025.05.2905:10:54UTC+00Singapore Producer Prices Fall for 1st Time in 5 Months

In April 2025, Singapore's Domestic Supply Price Index experienced a year-on-year decline of 1.1%, marking a shift from a previously adjusted 3.6% increase the month before and representing the first decrease since November of the previous year. The decline in the index can be attributed to significant price reductions in several categories: fuels dropped by 19.2% compared to an 11.5% fall in March; chemicals and chemical products decreased by 7.2% against a 4.7% decline previously; manufactured goods saw a 1.3% decrease compared to March's 0.7% drop; and animal and vegetable oils, fats, and waxes fell by 0.8%, a stark contrast to the 7.2% increase observed earlier. Conversely, some categories witnessed price hikes: beverages and tobacco rose by 1.1%, up from 0.6%; machinery and transport equipment increased by 10.6% though slightly lower than the previous 15.5% rise; food and live animals saw a 4.4% increase against the prior 5.7%; miscellaneous manufactured articles went up by 7.4% compared to 3.2%; and crude materials rose by 1.9% versus 1.3%. On a month-to-month comparison, the Domestic Supply Price Index contracted by 0.8%, following a revised drop of 2.2% recorded in March.