The Singapore Manufactured Products Price Index and Domestic Supply Price Index both experienced significant growth in February 2026, rising by 3.0% and 3.1% respectively compared to January 2026. Excluding oil, the indices saw increases of 2.9% and 2.5%, according to data from the Department of Statistics, Ministry of Trade & Industry.
The rise in the Manufactured Products Price Index was primarily driven by higher prices in the Machinery & Transport Equipment and Chemicals & Chemical Products sectors. This increase reversed the previous month’s decline of 0.3%. The Oil index notably surged by 3.7%, contrasting with a 1.0% decrease in January.
Similarly, the Domestic Supply Price Index saw a 5.1% rise in the Oil index, following a 0.2% drop in the previous month. The Non-oil index’s growth was led by the Machinery & Transport Equipment sector, alongside increases in Chemicals & Chemical Products, Crude Materials, and Food & Live Animals.
Despite these month-on-month gains, both indices showed year-on-year declines. The Manufactured Products Price Index fell by 2.0% from February 2025, with the Oil index dropping 11.5%. The Domestic Supply Price Index decreased by 2.9% over the same period, with a similar 11.0% decline in the Oil index.
These indices are crucial for monitoring price changes in locally manufactured commodities and goods retained for domestic use, providing insights into economic trends and inflationary pressures in Singapore.
