Malaysia’s Producer Price Index which measures the prices of goods at factory gate increased 11.2 per cent in May 2022 as compared to 11.0 per cent recorded in April 2022, the Department of Statistics Malaysia (DOSM) said.
It said that the increase was attributed by the Mining index which increased 20.6 per cent as compared to 18.4 per cent recorded in April 2022. Index of Agriculture, forestry & fishing registered an increase of 16.7 per cent (April 2022: 18.0%) mainly led by an increase in indices of Growing of perennial crops (21.2%), Fishing (11.3%) and Growing of non-perennial crops (7.8%).
In May 2022, the Manufacturing index registered a double-digit increase of 10.1 per cent for the first time since August 2011 (10.6%), underpinned by an increase in indices of subsectors namely Manufacture of vegetable & animal oils & fats (24.5%), Manufacture of refined petroleum products (22.9%) and Manufacture of basic chemicals, fertilizers & nitrogen compounds, plastics & synthetic rubber in primary forms (13.3%). In addition, the indices of Water supply increased 1.2 per cent, while, Electricity & gas supply decreased 0.6 per cent.
In terms of month-on-month comparison, the PPI local production increased 1.2 per cent as compared to 0.2 per cent recorded in the previous month.
DOSM It said that the increase was supported by Mining index that posted 4.0 per cent (April 2022: -6.6%) attributed by the rise in indices of Crude oil (4.3%) and Natural gas (3.1%). Similarly, the Manufacturing index increased 1.0 per cent due to the increase in indices of subsectors namely the Manufacture of vegetable & animal oils & fats (2.6%),
It said that the Manufacture of refined petroleum products (1.3%) and Manufacture of consumer electronics (1.1%). Agriculture, forestry & fishing index also increased 0.9 per cent (April 2022: -2.9%), supported by the increase in the indices of Chicken (3.8%) and Oil palm fresh fruit bunches (0.8%). In addition, the indices of vegetables such as Water spinach, Cucumbers, Chinese mustard, Long beans and Round cabbages also increased. Water supply index increased 0.1 per cent, while, Electricity & gas supply index decreased 0.5 per cent.
The index of Crude materials for further processing increased 17.3 per cent in May 2022 in comparison to 17.1 per cent recorded in April 2022. The increase was contributed by indices of Non-food materials (19.8%) and Foodstuffs & feedstuffs (3.8%). Similarly, index of Intermediate materials, supplies & components continued to post higher increase of 13.5 per cent in May 2022 (April 2022: 13.1%) driven by an increase in indices of Processed fuel & lubricants (18.7%), Materials & components for manufacturing (15.0%) and Supplies (5.7%). Finished goods index also registered an increase in May 2022 with 1.0 per cent (April 2022: 1.1%), attributed by the increase in Finished consumer foods (6.5%) index.
For a monthly comparison, index of Crude materials for further processing increased 2.1 per cent as against a 3.5 per cent decline in April 2022. Index of Intermediate materials, supplies & components inclined 1.2 per cent, while Finished goods index rose 0.3 per cent.
