FX.co ★ Singapore Producer Inflation Hits All-Time High

Singapore’s domestic supply price index surged 38.8% year-on-year in August 2026, the fastest increase on record and an acceleration from an upwardly revised 33.6% gain in July. The jump was driven primarily by higher prices for mineral fuels, lubricants and related materials (57.4% vs 46.8% in July), machinery and transport equipment (47.7% vs 42.3%), and chemicals and chemical products (13.8% vs 11.3%). Price growth also quickened for crude materials (20.2% vs 19.4%) and for beverages and tobacco (4.5% vs 4.0%).

Meanwhile, the non-oil domestic supply price index rose 33.0%, up from 29.3% in the previous month. By contrast, prices for food and live animals fell 1.4%, a slightly steeper drop than the 1.2% decline recorded in July. Producer inflation eased for manufactured goods (4.9% vs 5.0%) and for animal and vegetable oils, fats and waxes (4.2% vs 4.9%).

On a month-on-month basis, the domestic supply price index increased 4.1% in August, following an upwardly revised 2.4% gain in July.