Stats Dept: Producer Price Index for local production up 11.5pc in June 2021

Stats Dept: Producer Price Index for local production up 11.5pc in June 2021

29 Jul 2021

The Producer Price Index (PPI) for local production increased 11.5 per cent year-on-year (y-o-y) in June 2021, marking the fifth consecutive month of an upward trend, the Department of Statistics Malaysia (DoSM) said.

Chief statistician Datuk Seri Mohd Uzir Mahidin said the mining index increased 64.4 per cent due to higher price of natural gas, as well as continuous increase in crude petroleum.

He said the index for agriculture, forestry and fishing inclined at a slower pace of 29.8 per cent because of lower price of crude palm oil and livestock.

“In addition, the manufacturing index, which was influenced by the rise in the prices of primary and construction-related commodities, also showed a significant increase of 6.7 per cent,” he said in a statement today.

In terms of utility indices, he said water supply rose 1.6 per cent, while electricity and gas supply declined 0.2 per cent.

On a monthly basis, Mohd Uzir said the PPI for local production registered a marginal increase of 0.2 per cent in June 2021 compared to 1.0 per cent in the previous month, in which the increase was supported by the index of mining (8.2 per cent) and manufacturing (0.8 per cent).

However, the agriculture, forestry and fishing; electricity and gas supply; and water supply indices declined 10.5 per cent, 0.8 per cent and 0.2 per cent, respectively.

Meanwhile, he said the PPI for local production for the second quarter of 2021 rose 11.3 per cent to 111.3 from 100.0 in the same quarter of the previous year.

The increase, Mohd Uzir said was contributed by the index of mining (74.0 per cent), agriculture, forestry and fishing (46.0 per cent), manufacturing (5.0 per cent), and water supply (1.4 per cent), while that of electricity and gas supply declined 0.3 per cent.

On a quarterly basis, he said the PPI for local production rose 2.6 per cent compared to 5.1 per cent in the first quarter of 2021.

The DoSM also reported the PPI for local production for all stages of processing recorded an increase in price for June 2021.

“The index of crude materials for further processing increased 39.2 per cent compared to 53.6 per cent in the previous month,” it said.

It also added that the index of intermediate materials, supplies and components also increased 9.0 per cent, while the finished goods index edged up 0.3 per cent.

Source: Bernama