FX.co ★ Singapore Producer Inflation Accelerates in July

Singapore’s domestic supply price index rose 33.4% year-on-year in July 2026, quickening from a downwardly revised 29.8% increase in June. The acceleration was chiefly driven by higher prices for mineral fuels, lubricants and related materials (46.4% vs 44.3%), machinery and transport equipment (42.3% vs 35.1%), and manufactured goods (5.0% vs 5.8%). The non-oil domestic supply price index also strengthened, increasing 29.3% compared with 25.2% previously.

In contrast, price growth moderated for chemicals and chemical products (11.1% vs 13.4%) and crude materials (19.4% vs 19.5%). Prices for food and live animals fell 1.2%, though this was a smaller decline than the 1.8% drop recorded in June. On a month-on-month basis, the domestic supply price index rebounded by 2.3% in July, following an upwardly revised 3.0% decrease in the prior month.