The Domestic Supply Price Index in Singapore increased 0.6 percent from a year earlier in February 2019, compared to a downwardly revised 1.8 percent fall in the previous month, as mineral fuels prices rebounded (7.3 percent vs -2.4 percent in January). Meantime, non-oil prices continued to fall (-1.7 percent vs -1.5 percent). Among the non-oil sub-indices, prices decreased for chemicals & chemical products (-4.1 percent vs -3.5 percent); animal & vegetable oils (-14.4 percent vs -14.6 percent); machinery & transport equipment (-1.9 percent vs -2 percent); and food & live animals (-0.2 percent vs 0.3 percent). Producer Prices Change in Singapore averaged 0.78 percent from 1975 until 2018, reaching an all time high of 29.27 percent in March of 1980 and a record low of -22.20 percent in July of 2009.
Producer Prices Change in Singapore is expected to be 2.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Singapore to stand at 6.50 in 12 months time. In the long-term, the Singapore Producer Prices Change is projected to trend around 11.50 percent in 2020, according to our econometric models.