PPI for local production falls 1.6 per cent in February

KUALA LUMPUR: The Producer Price Index (PPI) for local production decreased 1.6 per cent in February 2019 as compared to the same period of the preceding year.

In a statement, the Department of Statistics said the decline was led by the index of agriculture, forestry and fishing at minus 11.6 per cent, water supply at minus two per cent and manufacturing at minus 1.3 per cent.

“Conversely, the indices of mining as well as electricity and gas supply have increased 2.4 per cent and 0.8 per cent respectively,” it said.

On a monthly basis, the PPI local production rose 0.6 per cent as compared to January 2019 supported by the indices of mining (4.7 per cent), manufacturing (0.2 per cent) and agriculture, forestry and fishing (0.2 per cent).

However, the indices of water supply as well as of electricity and gas supply recorded a decline of 1.0 per cent and 0.3 per cent respectively.

“PPI local production for the period January-February 2019 registered a decrease of 2.6 per cent as compared to the same period last year,” it said.

It also said that in February 2019, the PPI local production at all stages of processing showed a decline as compared to the same month last year.

The decline was contributed by the indices of crude materials for further processing (minus 2.9 per cent), intermediate materials, supplies and components (minus 1.9 per cent) and finished goods (minus 0.2 per cent).

“As compared to the previous month, the PPI local production of crude materials for further processing rose 2.3 per cent, followed by finished goods at 0.2 per cent and intermediate materials, supplies and components at 0.1 per cent,” it said. — Bernama