Overview

• The rate of Malaysia’s Producer Price Index which measures the prices of goods at factory gate went down to negative 0.8 per cent in February 2023 against 1.3 per cent in January 2023.

• The downward trend was primarily due to the decrease in Agriculture, forestry & fishing and Mining sectors. Agriculture, forestry & fishing index decreased negative 26.1 per cent January 2023: -20.9%). At the same time, Mining index slipped to negative 6.5 per cent January 2023: -2.2%). Meanwhile, Manufacturing index increased 3.0 per cent in February 023 moderating from 4.5 per cent recorded in the previous month. Utility sector, Water supply and Electricity & gas supply indices edged up 3.7 per cent and 1.0 per cent respectively.

• Month on month, PPI Local Production further decreased to negative 0.2 per cent in February 2023 as compared to negative 0.8 per cent in the previous month. Electricity & gas supply sector remained unchanged, while all other sectors recorded a decline. Mining index sank to negative 0.9 per cent, dragged down by Extraction of crude petroleum index which eased to negative 1.2 per cent in February 2023. Manufacturing index inched down to negative 0.2 per cent due to the decrease of Manufacture of coke & refined petroleum products (-0.9%), Manufacture of chemicals & chemical products (-0.8%) and Manufacture of rubber & plastics products (-0.6%) indices. Moreover, Agriculture, forestry and fishing sector lessened to negative 0.1 per cent, mainly due to the decline in Fishing (-3.9%) and Growing of perennial crops (-0.1%) indices. Meanwhile, Water supply index decreased to negative 0.3 per cent.

• In terms of PPI Local Production by stage of processing, index of Crude materials for further processing index continued to decrease by negative 16.9 per cent in February 2023 (January 2023: -12.4%) due to decline of negative 20.3 per cent in the Non-food materials. However, Intermediate materials, supplies and components rose 3.3 per cent in February 2023 (January 2023: 5.1%) reflected by Supplies (10.8%), Processed fuel & lubricants (8.9%) and Materials & components for construction (4.3%). Finished goods registered an increase of 4.0 per cent (January 2023: 4.5%).

• Month on month, Finished goods index remained unchanged in this month. However, Crude materials for further processing index decreased by negative 0.6 per cent and Intermediate materials, supplies & components index inched down to negative 0.2 per cent. 

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