PPI for local production decreases in September

KUALA LUMPUR: The Producer Price Index (PPI) local production in September 2020 fell 3.9 per cent year- onyear compared to negative 2.8 per cent in August 2020 – a seven-months streak of declines since March 2020.

Chief statistician Datuk Sri Dr Mohd Uzir Mahidin said the decrease in the overall index was a ributed to the decline in mining (- 43.2 per cent), manufacturing (-1.3 per cent), and electricity & gas supply (- 0.9 per cent).

“Conversely, the index of agriculture, forestry & fishing, and water supply rose 19.3 per cent and 1.0 per cent, respectively,” he said in a statement, yesterday.

Mohd Uzir said out of 1,063 items covered in the PPI, 41.2 per cent items recorded price increase in September 2020, while 52.2 per cent items showed a decline, while 6.6 per cent items were unchanged.

On a monthly basis, he said the PPI local production edged down by 0.5 per cent in September 2020 a er recording an increase of 1.0 per cent in August 2020.

“The decrease was mainly due to the decline in the index of mining (- 9.1 per cent) and manufacturing (- 0.2 per cent).

“However, the index of agriculture, forestry & fishing, water supply, and electricity & gas supply rose 2.5 per cent, 0.3 per cent and 0.1 per cent, respectively,” he said.

Mohd Uzir said the PPI local production for the period of January-September 2020 registered a decrease of 2.6 per cent as compared to negative 2.0 per cent in the same period of the previous year.

“The Department of Statistics Malaysia ( DOSM) also reported that the PPI local production for the third quarter 2020 declined 3.4 per cent to 101.2 compared to 104.8 in the same quarter of the previous year.

“On a quarterly basis, the PPI local production increased 1.2 per cent compared to negative 5.0 per cent in the second quarter 2020,” he added. — Bernama

Conversely, the index of agriculture, forestry & fishing, and water supply rose 19.3 per cent and 1.0 per cent, respectively. Datuk Seri Dr Mohd Uzir Mahidin