Domestic PPI rises 3.7% y-o-y to 128.1 in May 2014

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KUALA LUMPUR (June 30): The Department of Statistics Malaysia reported that the producer price index (PPI) for the domestic economy rose 3.7% to 128.1 in May 2014 from 123.5 in May 2013.

The PPI for domestic economy was supported by a 4.9% increase in the local production PPI, and import index which rose 1.2%.

“The index for Mining surged by 13.0 per cent, Fishing 10.8 per cent, Electricity, gas & water supply 10.4 per cent, Agriculture 7.8 per cent, followed by Manufacturing 3.0 per cent,” said the Department of Statistics Malaysia in a statement today.

Meanwhile, the 1.2% rise in the import index was backed by the increase in prices in nine commodity sections, namely, food; mineral fuels, lubricants, etc; animal and vegetable oils and fats; chemicals; crude materials, inedible; beverages and tobacco; miscellaneous manufactured articles; manufactured goods; and machinery and transport equipment.

Month-on-month, however, domestic PPI fell 0.6% to 128.1 in May 2014 from 128.9 in the month before.

“This was due to the decrease in the PPI for local production by 0.9 per cent and increase in import price index by 0.2 per cent,” said the department.