Malaysia’s November Producer Price Index falls 3.0%

by BERNAMA / pic by MUHD AMIN NAHARUL

KUALA LUMPUR – The Producer Price Index (PPI) for local production decreased 3.0 per cent year-on-year (y-o-y) in November 2020, said the Department of Statistics Malaysia (DoSM).

In a statement today, chief statistician Datuk Seri Dr Mohd Uzir Mahidin (picture) said the decrease in the overall index was attributed to the slump in mining (-45.8 per cent), electricity & gas supply (-0.2 per cent) and manufacturing (-0.1 per cent).

In contrast, the sectors, which increased during the month, were agriculture, forestry & fishing (21.5 per cent) and water supply (0.9 per cent).

On a monthly basis, Mohd Uzir highlighted the PPI for local production grew 2.0 per cent in November.

He said higher prices were reported by four sectors which comprise agriculture, forestry & fishing (11.1 per cent), mining (4.4 per cent), manufacturing (0.9 per cent), and electricity and gas supply (0.7 per cent), while the index of water supply remained unchanged.

The PPI local production for the period of January to November 2020 decreased 2.7 per cent, equivalent to the changes for the period of January to October 2020.

Meanwhile, for the y-o-y performance of the PPI’s local production by stage of processing, all stages recorded a decline.

“Raw materials for further processing fell 12.3 per cent followed by intermediate materials, supplies and components 1.0 per cent and finished goods 0.2 per cent,” Mohd Uzir added.