Services producer prices fall in Q2 with sea freight slump

The Warehousing & Storage Price Index was flat on the quarter but increased 3.4% YoY.

Singapore’s services producer prices showed mixed movements in the second quarter of 2025, with steep declines in sea freight transport offset by moderate gains in sectors such as warehousing and telecommunications, according to the Department of Statistics.

The Sea Freight Transport Price Index fell 4.2% QoQ and 15.1% YoY, as containerised and bulk freight rates weakened amidst excess shipping capacity and softer cargo demand. The drop extended the 7.4% contraction in the previous quarter.

Other trade-related services also eased. The Freight Forwarding Price Index declined 1.6% from the previous quarter and 2.2% YoY, reversing strong growth earlier in the year.

The Postal and Courier Price Index slipped 1.0% QoQ and 0.7% YoY, led by weakness in international courier services.

Professional and technology-driven services showed softer trends. The Accounting Services Price Index dropped 1.6% QoQ but edged up 0.2% YoY, whilst the Computer Consultancy & Information Services Price Index fell 0.7% from the previous quarter but rose 1.2% compared with a year earlier.

In contrast, some domestic-oriented sectors recorded growth. The Warehousing & Storage Price Index was flat on the quarter but increased 3.4% YoY, supported by higher charges for refrigerated and dangerous goods storage.

The Telecommunications Services Price Index held steady from the previous quarter and gained 0.8% YoY, lifted by wired and wireless services.

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