Singapore’s Domestic Supply Price Index dropped by 3.3% year-on-year in December 2025, reversing an upwardly revised 2.8% increase in the previous month. This marked the first decline in producer prices in five months and the sharpest since June, driven by sharp decreases in costs for mineral fuels (-11.7% vs -4.9% in November), chemicals and chemical products (-7.9% vs -6.9%), and machinery and transport equipment (-1.4% vs 7.8%). At the same time, producer inflation softened for animal and vegetable oils, fats and waxes (2.1% vs 8%) and miscellaneous manufactured articles (15.8% vs 16.1%). In contrast, prices continued to increase for beverages and tobacco (4.2% vs 3.5%) and crude materials (4% vs 2.3%). On a monthly basis, the Domestic Supply Price Index fell by 1.7% in December, slipping from an upwardly revised 0.6% gain in the preceding period.