Overview

Malaysia’s Producer Price Index increased by 0.2 per cent in September 2023

• Malaysia’s Producer Price Index (PPI) increased by 0.2 per cent in September 2023 as compared to a negative 2.2 per cent in August 2023.

• The marginal increase was contributed by all sectors except the Manufacturing sector. The Agriculture, forestry & fishing sector increased by 3.2 per cent (August 2023: -1.0%) due to the increase in Animal production (5.7%) and Growing of perennial crops (3.3%). At the same time, the Mining sector increased by 6.9 per cent (August 2023: -3.8%) supported by Extraction of crude petroleum (8.1%). Both utility sectors recorded incline, with the Electricity & gas supply sector increased 0.5 per cent and the Water supply increased by 0.9 per cent. Meanwhile, the Manufacturing sector remained negative in five consecutive months recording a negative 0.8 per cent (August 2023: -2.3%) affected by Manufacture of coke & refined petroleum products (-7.1%) and Manufacture of food products (-5.3%).

• On a monthly basis, PPI local production went up by 0.9 per cent in September 2023 (August 2023: 0.0%). The Mining sector increased by 5.6 per cent owing to Extraction of crude petroleum (6.6%) and Extraction of natural gas (1.9%) indices. The Manufacturing sector increased slightly by 0.8 per cent after recording negative changes since May 2023, attributed to the Manufacture of refined petroleum products (6.1%). Similarly, the Electricity & gas supply sector also inched up 0.4 per cent. However, the Agriculture, forestry & fishing sector declined by negative 1.4 per cent with the index of Growing of perennial crops posting a decrease of negative 2.3 per cent. The Water supply sector also recorded a decrease of negative 0.4 per cent in this month.

• In terms of PPI Local Production by stage of processing, the index of Crude materials for further processing index increased by 5.4 per cent in September 2023 (August 2023: -4.0%). The Intermediate materials, supplies & components index dropped by negative 2.7 per cent (August 2023: -3.7%), while the Finished goods index remained positive to post 3.1 per cent.

• Crude materials for further processing, Intermediate materials, supplies & components and Finished goods indices increased by 3.9 per cent, 0.2 per cent and 0.1 per cent, respectively in September 2023.

• The PPI Local Production continued to decline by negative 1.4 per cent in the third quarter of 2023 (Q2 2023: -4.1%). The decline was attributed to Mining (-2.8%) and Manufacturing (-1.7%) sectors. On the contrary, the Agriculture, forestry and fishing increased by 2.0 per cent, and both Water supply and Electricity & gas supply sectors recorded increases of 2.3 per cent and 0.2 per cent, respectively. However, a quarter-on-quarter comparison showed that PPI Local Production marginally inclined by 0.2 per cent (Q2 2023: -0.1%).

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