Manufactured product prices surges for the fifth time in August

Non-oil prices grew 38.9%, led by the Machinery & Transport Equipment sub-index.

The Singapore Manufactured Products Price Index (SMPPI) rose 40.1% year-on-year in August 2026, the fifth consecutive month of increases since April 2026, according to data from the Department of Statistics of Singapore.

On a monthly basis, the SMPPI rose 4.4% in August 2026, following the 2.4% increase in July 2026.

The Oil index increased 48.2% in August 2026, accelerating from the 39.8% increase in July 2026, mainly driven by higher prices of petroleum and petroleum products, against the backdrop of the Middle East conflict.

The Non-oil index increased 38.9% in August 2026, extending its upward trend from the 34.8% increase in the previous month.

Most of the Non-oil sub-indices rose year-on-year in August 2026. The increase in the Non-oil index was led by the Machinery & Transport Equipment sub-index, which rose 53.8%, continuing the growth seen in recent months, mainly due to higher prices of electrical machinery apparatus such as electronic integrated circuits.

The Chemicals & Chemical Products sub-index was the next largest contributor, rising 15.8%, primarily due to higher prices for organic chemicals.

The Domestic Supply Price Index rose 38.8% in August 2026 from a year ago, extending the increases seen in recent months and up from the 33.6% increase in July 2026.

The domestic oil index continued to rise, increasing 57.4% in August 2026, up from the 46.8% gain in July 2026. The Non-oil index rose 33.0% in August 2026, following the 29.3% increase in July 2026, with progressively stronger growth recorded in recent months.

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