Domestic PPI up 7.1 per cent in July

KUALA LUMPUR: The Producer Price Index (PPI) for local production in July 2017 rose 7.1 per cent to 106.0 compared to the same month last year.

In a statement yesterday, the Department of Statistics Malaysia said the mining index recorded the highest increase at 24 per cent, followed by agriculture, forestry and fishing (7.8 per cent), manufacturing (5.9 per cent), electricity and gas supply (1.7 per cent) and water supply (0.4 per cent).

On a month-to-month basis, the PPI for local production declined by 0.3 per cent in July 2017 compared to June 2017 due to decreases in two sectors - manufacturing (0.7 per cent) and agriculture, forestry and fishing (0.1 per cent).

However, mining, electricity, gas and water supply sectors increased by three per cent, 0.6 per cent and 0.2 per cent respectively.

Meanwhile, the PPI for local production by stage of processing (SOP) decreased 0.3 per cent in July compared to the previous month, due to a decline in the indices for intermediate materials, supplies and components (0.8 per cent) and finished goods (0.3 per cent).

However, the index for crude materials for further processing increased by 1.2 per cent, said the department.

It said the PPI for local production by SOP for July 2017 increased 7.1 per cent year-on-year, propelled by the index for crude materials for further processing (11.5 per cent), intermediate materials, supplies and components (8.6 per cent), and finished goods (1.3 per cent). — Bernama