PPI for local production down 3.6 pct in Jan 2019

KUALA LUMPUR: The Producer Price Index (PPI) for local production decreased 3.6 per cent year-on-year (y-o-y) in January 2019 against the corresponding month of 2018.

In a statement yesterday, the Department of Statistics (DoS) said the decrease in the overall index was due to the decline in agriculture, forestry and fishing (-14.0 per cent), mining (-8.4 per cent), manufacturing (-2.3 per cent) and water supply (-1.0 per cent).

Meanwhile, the electricity and gas supply index edged up by 2.2 per cent.

The PPI for local production for the month rose 0.6 per cent from a 1.3 per cent decline in December 2018, supported by the indices of agriculture, forestry and fishing (+7.2 per cent), mining (+1.8 per cent) and electricity and gas supply (+0.3 per cent).

“However, the index of water supply and manufacturing decreased 1.7 per cent and 0.1 per cent respectively,” the DoS said.

Chief statistician, Datuk Seri Dr Mohd Uzir Mahidin said in January 2019, the PPI for local production at all stages of processing showed a decline compared with the same month last year. “Index of crude materials for further processing registered the highest rate of decline at 9.7 per cent, followed by intermediate materials, supplies and components (-2.2 per cent) and finished goods (-1.8 per cent).

Compared with the previous month, the PPI for local production for crude materials for further processing rose 3.7 per cent in January, while finished goods increased 0.1 per cent.

However, intermediate materials, supplies and components declined 0.3 per cent.