The Domestic Supply Price Index in Singapore declined 4.9 percent from a year earlier in November 2019, following a downwardly revised 7.7 percent fall in the previous month. This was the seventh straight month decrease in producer prices and the smallest drop since May, as cost fell less for mineral fuels (-14.1 percent vs -22.1 percent in October); chemicals & chemical products (-7.0 percent vs -8.2 percent); crude materials excluded fuels (-3.1 percent vs -4.0 percent). Additionally, prices accelerated for manufactured goods (1.8 percent vs 1.6 percent); beverages & tobacco (4.1 percent vs 2.4 percent); food & live animals (2.2 percent vs 2.1 percent), while animal and vegetables oils prices rebounded sharply (2.8 percent vs -5 percent). On the other hand, prices of miscellaneous manufactured articles rose softer (0.6 percent vs 1.1 percent) while cost went down further for machinery & transport equipment (-0.7 percent vs -0.4 percent). Producer Prices Change in Singapore averaged 0.77 percent from 1975 until 2019, 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. source: Statistics Singapore
Producer Prices Change in Singapore is expected to be 1.00 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 2.20 in 12 months time. In the long-term, the Singapore Producer Prices Change is projected to trend around 2.50 percent in 2020, according to our econometric models.