Overview
- The rate of Malaysia’s Producer Price
Index which measures the prices of goods at factory gate declined
further to negative 2.9 per cent in March 2023 as against negative 0.8 per cent
in February 2023.
- The
contraction was mainly due to the decline in Agriculture, forestry &
fishing and Mining sectors which continued to record negative changes for three
consecutive months in 2023. Agriculture, forestry and fishing index decreased by double digit
negative 28.7 per cent (February 2023: -26.1%) while Mining index
decreased to negative 11.5 per cent (February 2023: -6.5%). Meanwhile, Manufacturing
index went up 1.4 per cent (February 2023: 3.0%). Whereas for utility sector,
Water supply and Electricity & gas supply indices edged up by 3.3 per cent
and 1.4 per cent, respectively.
- On
a monthly basis, PPI local production inched up 0.3 per cent in March 2023 as
compared to negative 0.2 per cent drop in the previous month. Agriculture,
forestry & fishing sector increased 4.8 per cent, in tandem with Growing of
perennial crops index which went up by 6.5 per cent. Electricity & gas
supply sector also recorded an increase of 0.5 per cent in this month.
Conversely, Mining sector shrank to negative 0.6 per cent and Manufacturing index dropped negative
0.1 per cent. Water supply index also decreased negative 0.3 per
cent, similar to the previous month.
- In
terms of PPI Local Production by stage of processing, index of Crude materials
for further processing slipped to negative 21.0 per cent in March 2023 (February
2023: -16.9%). However, Intermediate materials, supplies & components increased
1.5 per cent in March 2023 (February 2023: 3.3%) and Finished goods rose by 3.9
per cent (February 2023: 4.0%).
- Month
on month, Intermediate materials, supplies & components index remained
unchanged in March 2023. Meanwhile, both Crude materials for further processing
and Finished goods indices recorded an increase of 1.5 per cent and 0.2 per
cent, respectively.
- In the first quarter of 2023, the PPI
local production posted a decrease of negative 0.8 per cent (Q4 2022: 3.5%).
The decline was due to indices of Agriculture, forestry & fishing (-25.4%)
and Mining (-6.8%). On the contrary, increases were recorded for Manufacturing
(2.9%), Electricity & gas supply (1.2%) and Water supply (3.6%) indices.
Meanwhile, a quarter-on-quarter comparison showed a declined of negative 0.8
per cent (Q4 2022: -0.7%).
Released by:
DEPARTMENT OF STATISTICS MALAYSIA
27 April 2023
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