FX.co ★ Singapore Producer Prices Rise the Least in 3 Months

The Domestic Supply Price Index in Singapore experienced a 3.9% year-on-year increase in March 2025, a deceleration from February's upwardly revised 5.5% rise. This marked the fourth consecutive month of producer price increases, although it was the most modest rate since December of the previous year. The pace of price increases slowed for beverages and tobacco, moving from 0.5% in February to 0.4%, as well as for machinery and transport equipment, which eased from 16.2% to 15.6%. Conversely, there was an acceleration in price growth for food and live animals, jumping from 4.6% to 5.7%, and for miscellaneous manufactured articles, which rose from 1.0% to 3.1%. Prices for crude materials made a rebound, shifting from a decline of 3.3% to an increase of 1.5%, as did the prices for animal and vegetable oils, fats, and waxes, which climbed from a 4.3% decrease to a 7.1% rise. However, price declines intensified for mineral fuels, which fell sharply from 4.2% to 10.7%, for chemicals and chemical products, which dropped from 3.5% to 4.4%, and for manufactured goods, down from 0.7% to 0.8%. On a month-to-month basis, the Domestic Supply Price Index decreased by 1.9%, following a downwardly revised 0.3% decrease in February.