Import and export price indices rise in August as oil prices rally

Both the IPI and EPI logged double-digit growths compared to a year earlier.

Singapore’s import price index (IPI) marked its second consecutive month of increase in August, whilst the export price index (EPI) grew for the first time in four months.

IPI rose 1.6% month on month (MoM) to extend the 0.9% growth in July, Department of Statistics (SingStat) published on 29 September.

The IPI oil index rose 4.8% during the same period, accelerating from the 1.9% rise in July. The IPI non-oil index rose 0.4%, continuing its recent run of monthly increases of less than 1%, the SingStat said.

Compared to August 2025, the IPI rose by 15.6% in August, accelerating from the 13.5% year on year (YoY) growth in July. The oil index rose 56.6% YoY, from a 45.8% YoY in July, whilst the non-oil index rose 4.8% YoY, unchanged from the previous month.

The EPI rose 1.9% MoM the same month. This is its first increase in four months, the SingStat said.

The EPI oil index rose 7.1%, from a 0.7% rise the previous month, whilst the non-oil index rose 0.3% and reversed the 0.2% decline in July.

Compared to a year earlier, the EPI is higher by 15.2% YoY in August, up from 13.1% YoY in July. The EPI oil price index jumped by 51.6% YoY, whilst the non-oil index remained at the same level with a 7.2% YoY growth in August from the 7.3% increase in July.

Oil indices rose due to higher prices in petroleum and petroleum products, according to SingStat.

Non-oil indices, meanwhile, increased due to higher prices of electrical machinery apparatus such as electronic integrated circuits, SingStat said.

Higher prices of miscellaneous manufactured articles, particularly jewellery, also pushed up the import non-oil index, the report said.

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