Malaysia PPI for local production fell 3.9% in September

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KUALA LUMPUR (Oct 28): Malaysia’s Producer Price Index (PPI) for local production fell 3.9% year-on-year in September 2020.

In a statement today, the Department of Statistics Malaysia said out of 1,063 items covered in the PPI, 41.2% of the items recorded price increase in September 2020.

Meanwhile, 52.2% of the items showed a decline while 6.6% of the items were unchanged.

Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin highlighted that the decrease in the overall index was attributed by the decline in mining (-43.2%), manufacturing (-1.3%), and electricity and gas supply (-0.9%).

Conversely, the index of agriculture, forestry and fishing, and water supply rose 19.3% and 1.0% respectively.

Meanwhile, he said that on a monthly basis, the PPI for local production edged down by 0.5% in September 2020 after recording an increase of 1.0% in August 2020.

He said the decrease was mainly due to the decline in the index of mining (-9.1%) and manufacturing (-0.2%).

Mohd Uzir, however, said the index of agriculture, forestry and fishing rose 2.5%, while water supply gained 0.3%, and electricity and gas supply increased 0.1%.

He said the PPI for local production for the period of January-September 2020 registered a decrease of 2.6% as compared to negative 2.0% in the same period of the previous year.

Meanwhile, the PPI for local production for the third quarter of 2020 fell 3.4% to 101.2 as compared to 104.8 in the same quarter of the previous year.

On a quarterly basis, the PPI local production increased 1.2% as compared to negative 5.0% in the second quarter of 2020.

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