The increase in Malaysia’s Producer Price Index which measures the prices of goods at factory gate remained double digit at a rate of 11.0 per cent in April 2022 as compared to 11.6 per cent recorded in March 2022, the Department of Statistics Malaysia said.
It said that the increase was attributed to Mining index which increased 18.4 per cent as compared to 28.2 per cent recorded in March 2022. Index of Agriculture, forestry & fishing registered an increase of 18.0 per cent (March 2022: 24.9%) mainly led by an increase in indices of Growing of perennial crops (23.8%) and Fishing (7.0%).
Similarly, It said that the Manufacturing index increased 9.8 per cent as compared to 8.9 per cent posted in March 2022, supported by an increase in indices of subsectors namely Manufacture of refined petroleum products (23.4%), Manufacture of vegetable & animal oils & fats (23.4%) and Manufacture of basic chemicals, fertilizers & nitrogen compounds, plastics & synthetic rubber in primary forms (13.9%).
In addition, the indices of Water supply and Electricity & gas supply increased 1.2 percent and 0.6 per cent respectively.
In terms of month-on-month comparison, the PPI local production increased moderately at 0.2 per cent as compared to 2.4 per cent recorded in the previous month.
It said that the The moderate rise was supported by Manufacturing index that increased 1.4 per cent, underpinned by an increase in indices of subsectors namely Manufacture of vegetable & animal oils & fats (3.6%), Manufacture of refined petroleum products (2.4%) and Manufacture of electronic components & boards (1.0%).
However, it said that the increase in the PPI local production during April 2022 was also offset by the decline in Agriculture, forestry & fishing index that recorded negative 2.9 per cent (March 2022: 8.6%) due to a decline in the index of Oil palm fresh fruit bunches (-4.3%). In addition, Mining index also registered a 6.6 per cent decline in April 2022 (March 2022: 5.0%), attributed by the decline in Crude oil index (-8.6%). Moreover, indices of Electricity & gas supply and Water supply each edged up 0.7 per cent and 0.2 per cent.
PRODUCER PRICE INDEX BY STAGE OF PROCESSING The index of Crude materials for further processing increased 17.1 per cent in April 2022 in comparison to 23.3 per cent recorded in March 2022. The increase was contributed by indices of Non-food materials (19.9%) and Foodstuffs & feedstuffs (2.0%). Similarly, index of Intermediate materials, supplies & components continued to post higher increase of 13.1 per cent in April 2022 (March 2022: 12.5%) driven by an increase in indices of Processed fuel & lubricants (19.5%), Materials & components for manufacturing (14.3%) and Materials & components for construction (4.5%). Finished goods index also registered an increase in April 2022 with 1.1 per cent (March 2022: 0.4%). For a monthly comparison, index of Crude materials for further processing decreased 3.5 per cent as against a 6.7 per cent increase in March 2022. Index of Intermediate materials, supplies & components edged up 1.8 per cent, while Finished goods index rose moderately 0.3 per cent.
