Skip to content Singapore Producer Prices Witness a Downturn in November
Reuters – The Singapore Producer Prices Price Index (DSPI) in Singapore plunged 2.8% year-on-year in November 2023, marking the eleventh consecutive month of contraction and the sharpest decline since August. This downward trend was primarily driven by persistent falls in the prices of food and live animals (-1.4%) and crude materials excluding fuels (-5.5%). Additionally, a sharp drop in mineral fuels, lubricants, and related materials (-3%) further contributed to the price decreases.
In contrast, prices for beverages and tobacco (1.5%) and miscellaneous manufactured articles (2.3%) showed an upward trend, though the increase was milder compared to the previous month. This mixed performance reflects the diverse dynamics across various sectors.
Singapore Producer Prices Monthly Perspective and Implications
The monthly decline in DSPI accelerated to 3.1% in November from 2.1% in October, indicating a deepening trend of price reductions across the board. This persistent contraction, particularly in key sectors, signals a cautious market environment and underscores the need for businesses and investors to stay informed about these developments.
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