Factory-gate prices in Singapore rose in August, with the Domestic Supply Price Index rising 38.8% year over year, and the Singapore Manufactured Products Price Index growing 40.1%, according to the Singapore Department of Statistics on Tuesday.

The Domestic Supply Price Index growth accelerated from the 33.6% increase logged the previous month, beating the Trading Economics forecast for a 35.0% growth.

The Manufactured Products PPI expansion accelerated from the 35.4% growth recorded in July.

On a month-on-month basis, the Domestic Supply Price Index rose 4.1% in August after growing 2.4% in July, while the Manufactured Products PPI edged up 4.4%, accelerating from the 4.4% expansion between July and June.