Stats Dept: Malaysia’s Producer Price Index grew 4.9pc yoy in Sept, down from 6.8pc in Aug

KUALA LUMPUR, Oct 28 ― Malaysia’s Producer Price Index (PPI) for local production for September 2022 increased by 4.9 per cent year on year, although this eased from the 6.8 per cent recorded in the previous month, said the Department of Statistics Malaysia (DoSM).

In a statement, it said although the manufacturing index for September saw an increase of 8.1 per cent, followed by the water supply (4.3 per cent) and electricity and gas supply (1.2 per cent) indices, these were offset by a decline in the index of agriculture, forestry and fishing (15.5 per cent).

“On the other hand, the mining index remained unchanged as the same month of the previous year,” it said.

DoSM said for a monthly comparison, PPI local production posted a decline for four consecutive months to record 1.4 per cent in September 2022.

“All sectors recorded a decline except for the water supply index, which rose 1.1 per cent.

“The index of agriculture, forestry and fishing fell by 5.3 per cent and was followed by the indices of mining (4.9 per cent), manufacturing (0.7 per cent) and electricity and gas supply (0.2 per cent),” it said.

DoSM added that PPI local production recorded an increase of 6.5 per cent in the third quarter of 2022 (Q3 2022), down from 11.1 per cent in Q2 2022.

“The increase was supported by the indices of manufacturing (9.1 per cent), mining (4.9 per cent), water supply (3.1 per cent) and electricity and gas supply (0.9 per cent).

However, the incline was also offset by a decrease of 12.1 per cent posted by the agriculture, forestry and fishing index,” it added.

In terms of PPI local production by stage of processing, crude materials for further processing index continued to decline by 6.4 per cent in September 2022, said DoSM.

Furthermore, it said the intermediate materials, supplies and components index increased by 10.0 per cent, while the finished goods index edged up 3.1 per cent.

“For a monthly comparison, the index of crude materials for further processing declined by 5.4 per cent, followed by the intermediate materials, supplies and components index (0.8 per cent). However, the finished goods index increased 0.2 per cent,” it said. ― Bernama