Producer Price Index slipped 0.3% in August

KUALA LUMPUR: The Producer Price Index (PPI) for local production slipped 0.3% yearon-year (y-o-y) in August compared to 0.7% recorded in July, said the Statistics Department.

“The sectors which decreased during this period were agriculture, forestry and fishing (-13.2%), manufacturing (-1.7%) and water supply (-0.5%), while the indices for mining and electricity and gas supply increased by 28.6% and 0.6%, respectively,” it said in a statement yesterday.

On a monthly basis, the PPI for local production declined marginally by 0.1% in August, mainly due to the decrease in the following indices -- mining (-0.9%), agriculture, forestry and fishing (-0.7%) and electricity and gas supply (-0.2%).

In contrast, the index for manufacturing rose 0.1%, while the index for water supply remained unchanged, the department said.

Meanwhile, the PPI for local production by stage of processing (SOP) decreased 0.1% in the same month due to the decrease in the indices for crude materials for further processing (-0.8%) and finished goods (-0.2%), whilst the index for Intermediate materials, supplies and components rose 0.3%, it said.

The department said the PPI for local production by SOP for August 2018 also eased 0.3% y-o-y, due to the decrease in the indices for finished goods (-3.3%) and intermediate materials, supplies and components (-1.4%).

“Meanwhile, the index for crude materials for further processing grew 7.2%,” it added. — Bernama