FX.co ★ Singapore Producer Inflation At 6-Month High

In September 2025, Singapore's Domestic Supply Price Index recorded a year-on-year increase of 3.7%, accelerating from a 1.1% rise in August. This represented the highest level of producer inflation since March. Notably, there were price increases for food and live animals, rising to 1.2% from 0.6% in August, and for miscellaneous manufactured articles, which climbed to 13.8% from 12.4%. The cost for crude materials excluding fuels showed recovery, moving from a decline of 3.0% to a growth of 2.9%. Meanwhile, the rate of decline eased for mineral fuels, lubricants, and related materials, improving to -4.9% from -12.7%, as well as for chemicals and chemical products, which improved to -5.7% from -8.1%, and manufactured goods, which moderated from -1.6% to -0.4%. Conversely, price growth slowed for beverages and tobacco, from 2.3% to 2.2%, animal and vegetable oils, fats, and waxes, from 7.1% to 4.3%, and machinery and transport equipment, from 10.7% to 10.1%. On a month-to-month basis, the index rose by 0.6%, following a 0.2% increase in the preceding month.