Singapore’s producer prices decreased for the first time in six months in December, mainly driven by the fall in the oil index, data from the Department of Statistics showed on Thursday.
The manufacturing producer price index dropped 2.2 percent year-on-year in December, reversing a 5.4 percent increase in November.
The oil index plunged 10.6 percent annually in December, and the non-oil index decreased slightly by 0.8 percent.
Domestic supply prices were 3.3 percent cheaper in December than a year ago, in contrast to a 2.8 percent rise in the prior month.
On a monthly basis, producer prices fell 1.4 percent in December, after remaining flat in November.
During the year 2025, the overall manufacturing producer price index climbed 3.7 percent compared to a 0.5 percent decline in 2024, the agency said.
Data also showed that the import price index decreased at a faster pace of 3.3 percent annually in December, following a 1.0 percent drop in the previous month. Similarly, the yearly decline in export prices deepened to 4.9 percent from 3.3 percent in November.
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