Malaysia’s Services Producer Price Index (SPPI) averaged 115.4 points in the third quarter of 2023, an increase of 1.4 per cent as compared to 113.8 in the same quarter of the preceding year.
The SPPI report released by the Department of Statistics Malaysia (DOSM) measures changes in producer prices forMalaysia’s domestic services sector.
The Chief Statistician Malaysia, Dato’ Sri Dr. Mohd Uzir Mahidin explained in the statement that, “All subsectors recorded an increase in this quarter except the index of Information & Communication which remained unchanged. The Accommodation and Food & Beverage Service Activities rose by 4.6 per cent (Q2 2023: 6.3%) attributed to the increase in Restaurants & Mobile Food Service Activities (5.2%) and Transportation recorded a marginal increase of 0.7 per cent (Q2 2023: 4.8%) due to the Air Transport (1.5%).
In the meantime, the other subsectors that recorded an increase were Education (1.0%), Arts, Entertainment & Recreation (0.8%) and Professional (0.4%). Meanwhile, the index of Real Estate Activities and Health both increased by 0.2 per cent, respectively.”
He added, “On a quarter-on-quarter basis comparison shows that SPPI increased by 0.4 per cent as compared to 0.2 per cent recorded in the previous quarter. This was due to the increase particularly in Arts, Entertainment & Recreation (3.0%), Accommodation and Food & Beverage Service Activities (0.9%), Education (0.3%) and Real Estate Activities (0.2%) subsectors.
Meanwhile, the index of Transportation, Professional, Health and Information & Communication remained unchanged.”