Overview

The Producer Price Index (PPI) comprises of indices for local production, imports and domestic economy. The domestic economy price index is a composite index based on the price data derived from the local production and import price indices.

DOMESTIC ECONOMY

Year-on-year comparison showed that the PPI for domestic economy in April 2015 decreased by 5.9 per cent with local production index dropped by 8.8 per cent while the import price index inclined by 0.4 per cent. (Table 1)

The PPI for domestic economy in April 2015 registered a decrease of 0.4 per cent when compared  with  the  previous  month. This  was  due  to  the decrease in local production index (-0.7%) while the import price index increased by 0.4 per cent.

In seasonally adjusted terms, the producer price index for domestic economy in April 2015 decreased by 0.3 per cent compared to March 2015.

LOCAL PRODUCTION

Year-on-year comparison revealed that the PPI for local production fell 8.8 per cent in April 2015. The highest drop was recorded by Mining index (-32.2%), followed by Agriculture, forestry & fishing (-9.9%), Manufacturing (-5.2%), Electricity & gas (-5.2%) and Water supply (-0.9%). [Table 2].

The PPI for local production also decreased by 0.7 per cent in April 2015 compared to previous month. This was mainly due to the decreases in Agriculture, forestry & fishing (-3.2%), Electricity & gas (-2.2%) and Manufacturing (-1.2%). However, index for other categories showed increases which constituted of Mining (+6.7%) and Water supply (+0.2%).

PPI for Local Production by Stage of Processing

The PPI for local production by stage of processing (SOP) declined by 0.7 per cent in April 2015 compared to previous month. The decline was due to the decrease in the price of Intermediate materials, supplies and components (-1.9%). However, index for Crude materials for further processing and Finished goods showed increases of 1.9 and 0.1 per cent respectively.  

As compared with the same month a year ago, the PPI for local production by SOP for April 2015 dropped by 8.8 per cent. This was due to decreases in Index for Crude materials for further processing (-22.9%), followed by index for Intermediate materials, supplies and components (-7.4%). However, index for Finished goods increased by 0.9 per cent.

IMPORTS

The import price index went up by 0.4 per cent in April 2015 compared to March 2015. The increase in the index was attributed to the higher prices of goods transacted by importers for eight (8) commodity sections as classified under SITC 4+ i.e Miscellaneous  transactions  and  commodities  (+1.5%), Chemicals (+0.8%), Machinery and transport equipment (+0.4%), Food (+0.4%), Manufactured goods (+0.2%), Mineral fuels, lubricants etc. (+0.1%), Crude materials, inedible (+0.1%) and Beverages & tobacco (+0.1%). However, decreases were recorded for Animal and vegetable oils and fats (-0.2%) and Miscellaneous manufactured articles (-0.1%). [Table 3]

On a yearly basis, the import price index for April 2015 increased by 0.4 per cent compared to the same month of preceding year. The incline in prices were observed in eight (8) commodity sections which comprises of  Miscellaneous transactions and commodities (+4.9%), Machinery and transport equipment (+2.2%), Miscellaneous manufactured articles (+1.2%), Chemicals (+1.0%), Food (+0.8%), Manufactured goods (+0.7%),  Crude materials, inedible (+0.6%) and Beverages and tobacco (+0.1%). However, decreases were recorded for Mineral fuels, lubricants etc (-9.7%) and Animal and vegetable oils and fats (-3.7%).

Import Price Index by Stage of Processing

On a monthly basis, the import price index by stage of processing (SOP) for April 2015 increased by 0.4 per cent compared to the previous month. This was due to increases by the index for Intermediate materials supplies and components (+0.4%), Crude  materials  for  further  processing (+0.1%) and Finished  goods (+0.1%).

The import price index by SOP for April 2015 inclined by 0.4 per cent  compared to April 2014. The increase in the prices was mainly due to the increase in the index for Intermediate materials, supplies and components (+1.4%) and  Finished goods (+0.6%). However, indices for Crude materials  for  further  processing decreased by 6.9 per cent.

Released By:

THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
29 May 2015

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