The Domestic Supply Price Index in Singapore fell 0.4 percent from a year earlier in December 2018, compared to a 5.1 percent gain in the previous month. It was the first decline in producer prices since February last year, as oil prices dropped (-2.1 pct vs 16 pct in November). In addition, prices of non-oil sectors rose less than in a month earlier (0.2 pct vs 0.9 pct). Among the non-oil sub-indices, prices increased at a softer pace for chemicals & chemical products (1.7 pct vs 5.0 pct); manufactured goods (2.2 pct vs 2.3 pct); beverages & tobacco (2.0 pct vs 2.1 pct). Also, prices continued to decline for machinery & transport equipment (-0.6 pct vs -0.1 pct); food & live animals (-0.3 pct vs -0.4 pct); and animal & vegetable oils (-15.3 pct vs -18.2 pct). On the other hand, prices rebounded for miscellaneous manufactured articles (0.6 pct vs -0.1 pct) while prices inflation was steady for crude materials (at 0.2 pct). 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 13.80 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 7.00 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.