Singapore’s producer prices fall for 4th time in April

Producer prices in Singapore edged up 0.1% year-on-year in April, the latest data by Statistics Singapore showed on Wednesday. This marked the fourth consecutive month of decreasing domestic supply prices.

In April, prices decreased at a slower rate for crude materials (-2.8% YoY compared to -7.4% YoY in March), animal & vegetable oils, fats & waxes (-12.2% YoY compared to -15% YoY in March), chemical & chemical products (-2.3% YoY versus -3.4% YoY in March), manufactured goods (-3% YoY versus -3.4% YoY in March), machinery & transport equipment (-1.6% YoY versus -3.4% YoY in March) and miscellaneous manufactured articles (-1.4% YoY versus -2.3% YoY in March).

Conversely, prices rose at a faster rate for food & live animals (2% YoY versus 1.2% YoY in March) and mineral fuels (6.8% YoY versus 3.3% YoY in March).

Meanwhile, price decrease accelerated for beverages & tobacco (-1.3% YoY compared to -0.4% YoY in March).

In monthly terms, domestic supply prices went up 1.8% in April, following a revised up 0.4% drop in March.

The Singaporean Dollar was 0.26% weaker on the day against its US counterpart, with the USD/SGD currency pair last trading at 1.3518.