Overview

PRODUCER PRICE INDEX (2010=100) BY SECTOR (MSIC 2008)

The Producer Price Index (PPI) local production which measures the costs of goods at factory gate recorded a two-digit increase for the first time this year with 11.6 per cent in March 2022 as compared to 9.7 per cent posted in February 2022. The increase in the PPI local production in March 2022 was driven by Mining index that rose 28.2 per cent as opposed to 23.3 per cent recorded in February 2022. Index of Agriculture, forestry & fishing registered a higher increase of 24.9 per cent (February 2022: 17.7%) mainly led by an increase in indices of Growing of perennial crops (33.4%), Fishing (6.5%) and Animal production (5.5%). Similarly, Manufacturing index increased 8.9 per cent as compared to 7.9 per cent posted in February 2022, supported by an increase in indices of subsectors namely Manufacture of refined petroleum products (22.7%), Manufacture of vegetable & animal oils & fats (20.8%) and Manufacture of basic chemicals, fertilizers & nitrogen compounds, plastics & synthetic rubber in primary forms (13.3%). In addition, the indices of Water supply and Electricity & gas supply increased 1.7 per cent and 0.2 per cent respectively.

In terms of month-on-month comparison, the PPI local production increased 2.4 per cent as against 2.0 per cent recorded in the previous month. The increase was driven by an 8.6 per cent increase in Agriculture, forestry & fishing index (February 2022: 6.9%), where it was underpinned by higher price of Oil palm fresh fruit bunches (12.7%). Meanwhile, prices of Crude oil and Natural gas continued to rise in March 2022, which led to a 5.0 per cent increase in Mining index. Manufacturing index also increased 1.5 per cent (February 2022: 1.3%), contributed by an increase in indices of subsectors namely Manufacture of vegetable & animal oils & fats (3.7%), Manufacture of refined petroleum products (2.9%) and Manufacture of electronic components & boards (0.5%). In addition, indices of Electricity & gas supply and Water supply each edged up 0.2 per cent and 0.1 per cent.

Table 1 : Producer Price Index (PPI) Local Production by Sector, Malaysia

PRODUCER PRICE INDEX BY STAGE OF PROCESSING

The index of Crude materials for further processing continued to post higher increase of 23.3 per cent in March 2022 in comparison to 17.7 per cent recorded in February 2022. The increase was contributed by indices of Non-food materials (27.1%) and Foodstuffs & feedstuffs (3.4%). Similarly, index of Intermediate materials, supplies & components increased 12.5 per cent (February 2022: 11.4%) driven by an increase in indices of Processed fuel & lubricants (20.1%), Materials & components for manufacturing (12.8%) and Materials & components for construction (4.6%). Finished goods index also registered an increase in March 2022 with 0.4 per cent, after posting a decline for eight consecutive months.

For a monthly comparison, index of Crude materials for further processing increased 6.7 percent as compared to 4.8 per cent recorded in February 2022. Index of Intermediate materials, supplies & components edged up 1.7 per cent, while Finished goods index rose slowly 0.3 per cent.

Table 2: Producer Price Index (PPI) Local Production by Stage of Processing, Malaysia

PPI LOCAL PRODUCTION, FIRST QUARTER OF 2022

In the first quarter of 2022, the PPI local production posted an increase of 10.2 per cent (Q4 2021: 11.9%). The increase was led by indices of Mining (28.3%), Agriculture, forestry & fishing (18.4%), Manufacturing (8.0%), Water supply (1.4%) and Electricity & gas supply (0.6%). Meanwhile, a quarter-on-quarter comparison showed that PPI local production increased 3.5 per cent as opposed to 2.1 per cent recorded in the fourth quarter of 2021.

Table 3: Average Index and Percentage Change of Quarterly PPI Local Production by Sector, Malaysia

The full publication of the Producer Price Index Malaysia, March 2022 can be downloaded from  eStatistik portal.

Released by:

DEPARTMENT OF STATISTICS, MALAYSIA

28th APRIL 2022

Contact person:

Mohd Yusrizal Ab Razak
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
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