Overview
Malaysia’s Producer Price Index
declined marginally by negative 0.3 per cent in October 2023
- Malaysia’s Producer Price Index (PPI)
which measures the prices of goods at the factory gate, declined marginally by
negative 0.3 per cent in October 2023 after an increase of 0.2 per cent in
September 2023.
- The Manufacturing sector decreased by
negative 0.7 per cent in October 2023 (September 2023: -0.8%) due to
Manufacture of coke & refined petroleum products (-8.8%) and Manufacture of
food products (-4.2%). At the same time, the Electricity & gas supply index
also dropped by negative 0.5 percent. Meanwhile, the Agriculture, forestry
& fishing sector increased by 3.8 per cent (September 2023: 3.2%) due to
the increase in Animal production (4.3%) and Growing of perennial crops (3.8%)
indices. The Mining sector also recorded a slight increase of 0.5 per cent in
October 2023 as opposed to 6.9 per cent in the previous month, supported by the
Extraction of crude petroleum (5.6%) index. Furthermore, the Water supply index
went up by 1.0 per cent.
- On a monthly basis, PPI Local
Production decreased by negative 0.3 per cent in October 2023 after recording
0.9 per cent increase in the previous month. Most of the sectors posted a
decline except the Water supply which recorded an increase of 0.8 per cent. The
Agriculture, forestry & fishing sector down by negative 1.5 per cent,
affected by the index of Growing of perennial crops (-2.5%). The Mining sector
declined negative by 1.3 per cent, attributed to the Extraction of natural gas
(-6.6%) index. At the same time, the Manufacturing sector went down by negative
0.1 percent due Manufacture of food products (-0.6%) and Manufacture of coke
and refined petroleum products (-0.6%) indices. The Electricity & gas
supply sector also inched down by negative 0.6 per cent this month.
- In terms of PPI Local Production by
stage of processing, the index of Crude materials for further processing index increased
by 5.3 per cent in October 2023 (September 2023: 5.4%). The Finished goods
index remained positive to post 2.2 per cent (September 2023: 3.1%) contributed
by the Capital equipment (3.4%). By contrast, the Intermediate materials,
supplies & components index decreased by negative 3.0 per cent (September
2023: -2.7%) due to Processed fuel & lubricants (-13.2%) and Materials
& components for manufacturing (-2.7%) indices.
- On a monthly basis, the Crude
materials for further processing recorded no changes in the month.
However, Finished goods decreased by negative 0.6 per cent and Intermediate
materials, supplies & components declined by negative 0.2 per cent and in
October 2023.
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