Malaysia’s PPI down 3.6% YoY in October

by S BIRRUNTHA / pic by BERNAMA

MALAYSIA’S Producer Price Index (PPI) fell 3.6% year-on-year (YoY) in October 2020, mainly due to the decrease in mining, electricity and gas supply, and the manufacturing sectors.

Department of Statistics Malaysia chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the mining index showed the highest decline of 43.5% compared to the same month a year ago.

Other sectors such as electricity and gas supply recorded a drop of 1.2%, while the manufacturing segment was down by 1.1%.

“In contrast, the index of agriculture, forestry and fishing, and water supply increased by 21% and 1% respectively.

“On a month-on-month basis, the PPI local production registered a marginal increase of 0.1% in October compared to September 2020,” he said in a statement yesterday.

Mohd Uzir noted that the marginal increase on the monthly PPI local production was attributed by the incline in the index of agriculture, forestry and fishing at 1.1% respectively and manufacturing at 0.3%.

Meanwhile, he added that the indexes of mining and electricity and gas supply slipped to -3.1% and -0.4% respectively. The water supply index remained unchanged.

The PPI for local production for the period of January to October 2020 fell 2.7% compared to -2.6% in the same period last year.

Mohd Uzir also said for the YoY performance of the PPI local production by stage of processing, all stages recorded a decline.

“Raw materials for further processing fell 13.2%, followed by intermediate materials, supplies and components (1.6%) and finished goods (0.8%),” he added.