The Domestic Supply Price Index in Singapore declined 5.2 percent from a year earlier in June 2019, compared to a 2.5 percent drop in the previous month. This was the second straight decrease in producer prices and the steepest decline since August 2016, as both mineral fuels prices (-10.9% vs -3.3% in May) and non-oil prices (-2.9% vs -2.2%) fell faster. Among the non-oil sub-indices, prices dropped further for machinery & transport equipment (-3.6% vs -3.4%) and chemicals & chemical products (-7.5 vs -3.8%). In addition, prices increased softer for: manufactured goods (4.5% vs 5.1%); beverages and tobacco (1.8% vs 2.0%), and miscellaneous and manufactured articles (0.9% vs 1.3%). Meantime, food & live animals prices continued to rise (1.4% vs 1.0%). Producer Prices Change in Singapore averaged 0.79 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.
Producer Prices Change in Singapore is expected to be -4.00 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 1.90 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.