Overview

Malaysia’s Producer Price Index eased to 0.3 per cent in August 2024, the lowest recorded since February 2024

• Malaysia’s Producer Price Index (PPI), which measures the price changes of goods at the producer level, eased to 0.3 per cent in August 2024, as compared to 1.3 per cent in the previous month. 

• Other sectors of PPI Local Production continued to increase in August 2024, with the exception of the Mining sector. The Agriculture, forestry & fishing sector went up by 2.7 per cent from the preceding year (July 2024: 3.4%) with the Growing of perennial crops index recording an increase of 6.3 per cent. The Manufacturing sector increased by 1.0 per cent (July 2024: 0.9%) reflected by Manufacture of computer, electronic & optical products (5.8%) and Manufacture of food products (2.3%) indices. Meanwhile, the index of Water supply and Electricity & gas supply increased by 8.0 per cent and 1.0 per cent, respectively. However, the Mining sector decreased by 8.3 per cent compared to an increase of 2.2 per cent in the previous month, due to Extraction of natural gas (-10.1%) and Extraction of crude petroleum (-7.8%).

• On a monthly basis, PPI Local Production continued to decline by 0.9 per cent in August 2024 (July 2024: -0.2%). The decline was attributed to the Mining sector, which went down 6.8 per cent (July 2024: 0.7%). This was affected by both Extraction of natural gas (-9.1%) and Extraction of crude petroleum (-6.1%) indices. The Agriculture, forestry & fishing sector edged down 2.7 per cent (July 2024: 1.1%), with the index of Growing of perennial crops recorded a decline of 2.9 per cent. The Manufacturing sector continued to decrease by 0.2 per cent (July 2024: -0.3%), owing to Manufacture of coke & refined petroleum products (-1.6%) and Manufacture of computer, electronic & optical products (-0.4%) indices. The Water supply sector similarly went down 0.8 per cent (July 2024: 0.8%). Conversely, the Electricity & gas supply index increased by 0.6 per cent (July 2024: -0.8%).

• The Finished goods index edged up 3.5 per cent (July 2024: 2.9%) contributed by the Capital equipment (7.1%) index. The Intermediate materials, supplies & components index inched up 0.2 per cent (July 2024: 0.6%) due to the Materials and components for manufacturing (2.5%). Meanwhile, the Crude materials for further processing index was down by 3.5 per cent (July 2024: 1.5%) due to the Non-food materials index (-4.2%). 

• On a monthly basis, the Crude materials for further processing index decreased by 3.5 per cent, while the Intermediate materials, supplies & components index declined by 0.8 per cent. However, the Finished goods index went up by 0.6 per cent.

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