PPI for local production slips 2.8% in August 2020


MALAYSIA’S Producer Price Index (PPI) for local production slipped 2.8 per cent year-on-year (y-o-y) in August 2020 to 101.7 compared with 104.6 in the same month last year.

In a statement, the Department of Statistics Malaysia’s (DOSM) chief statistician Datuk Seri Dr Mohd Uzir Mahidin (picture) attributed the decrease in the overall index to the decline in the mining index (-33.7 per cent y-o-y), electricity and gas supply (-1.9 per cent y-o-y) and manufacturing (-0.9 per cent y-o-y).

In contrast, the agriculture, forestry and fishing index as well as water supply rose 15.6 per cent y-o-y and 0.7 per cent y-o-y, respectively.

Meanwhile, DoSM said out of 1,063 items listed under the PPI, the prices of 39.2 per cent of the items had increased, while 54.5 per cent had declined and 6.3 per cent were unchanged.

On a monthly basis, the PPI for local production rose 1.0 per cent in August 2020, supported by the increase in the indices of agriculture, forestry and fishing (6.0 per cent), mining (3.0 per cent), water supply (1.5 per cent) and manufacturing (0.5 per cent).

However, the electricity and gas supply index declined 0.2 per cent.

Additionally, it said that the PPI for local production for January-August 2020 registered a decrease of 2.4 per cent as compared to -2.3 per cent in the same period in 2019.