Singapore’s Domestic Supply Price Index declined by 2.9% year-on-year in February 2026, easing from a revised 6.1% fall in January. This was the third consecutive monthly contraction, though at a slower pace, as deflation moderated for food and live animals (-1.8% vs -2.2%), mineral fuels (-11% vs -16.6%), and chemicals and chemical products (-8.8% vs -9.5%).
Meanwhile, prices rose more sharply for crude materials (11.4% vs 4.3%), and turned positive for animal and vegetable oils, fats, and waxes (1% vs -1.7%). By contrast, price increases slowed for beverages and tobacco (3% vs 3.9%) and miscellaneous manufactured articles (11.1% vs 14.8%).
On a month-on-month basis, the Domestic Supply Price Index climbed 3.1% in February, rebounding from a 0.1% decline in the previous month.
