Malaysia's Producer Price Index increases marginally to 101.3 in October, data shows

Chief statistician Datuk Seri Mohd Uzir Mahidin said the slight increase was attributed to the incline in the sectoral indexes of agriculture, forestry & fishing (1.1 per cent) and manufacturing (0.3 per cent). — Picture by Hari Anggara

KUALA LUMPUR, Nov 30 — The Producer Price Index (PPI) for local production increased by a marginal 0.1 per cent to 101.3 in October 2020 from 101.2 in September 2020, the Department of Statistics Malaysia said.

In a statement, chief statistician Datuk Seri Mohd Uzir Mahidin said the slight increase was attributed to the incline in the sectoral indexes of agriculture, forestry & fishing (1.1 per cent) and manufacturing (0.3 per cent).

Meanwhile, the indexes of mining and electricity & gas supply slipped to -3.1 per cent and -0.4 per cent, respectively. The water supply index remained unchanged.

Year-on-year (y-o-y), the PPI for local production decreased 3.6 per cent in October 2020 to 101.3 from 105.1 in the same month of the preceding year, driven by the indexes of mining (-43.5 per cent), electricity & gas supply (-1.2 per cent), and manufacturing (-1.1 per cent).

In contrast, the indexes of agriculture, forestry & fishing and water supply increased 21.0 per cent and 1.0 per cent y-o-y, respectively.

The PPI for local production for the period of January to October 2020 fell 2.7 per cent compared to -2.6 per cent in the same period last year.

“Meanwhile, for the y-o-y performance of the PPI local production by stage of processing, all stages recorded a decline.

“Raw materials for further processing fell 13.2 per cent followed by Intermediate materials, supplies & components (1.6 per cent) and finished goods (0.8 per cent),” Mohd Uzir added. — Bernama

Source: Malay Mail