KUALA LUMPUR: Malaysia’s Producer Price Index (PPI) native manufacturing, which measures the prices of products on the manufacturing facility gate, remained high in May with a growth of 11.2 per cent year-on-year (y-o-y) in contrast with 11.0 per cent y-o-y in April 2022, stated the Department of Statistics Malaysia (DOSM).
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin attributed the growth to the mining index, which elevated 20.6 per cent y-o-y towards 18.4 per cent y-o-y in April 2022.
He stated the agriculture, forestry and fishing index grew by 16.7 per cent y-o-y, primarily led by a rise in the indices of rising of perennial crops (21.2 per cent), fishing (11.3 per cent) and rising of non-perennial crops (7.8 per cent).
“The manufacturing index registered a double-digit improve of 10.1 per cent for the primary time since August 2011, underpinned by a rise in indices of subsectors, specifically manufacture of vegetable and animal oils and fat (24.5 per cent), manufacture of refined petroleum merchandise (22.9 per cent) and manufacture of fundamental chemical substances, fertilisers and nitrogen compounds, plastics and artificial rubber in main kinds (13.3 per cent).
“In addition, the indices of water provide elevated 1.2 per cent, whereas that of electrical energy and gasoline provide decreased 0.6 per cent,” he stated in a press release immediately.
On a month-on-month foundation, Mohd Uzir stated the PPI native manufacturing elevated 1.2 per cent versus 0.2 per cent recorded in the earlier month.
He stated the growth was supported by the mining index, which rose 4.0 per cent improve, pushed by the rise in the indices of crude oil (4.3 per cent) and pure gasoline (3.1 per cent).
Meanwhile, the manufacturing index elevated by 1.0 per cent due to the growth in indices of subsectors, specifically manufacture of vegetable and animal oils and fat (2.6 per cent), manufacture of refined petroleum merchandise (1.3 per cent) and manufacture of shopper electronics (1.1 per cent), he stated.
“The double-digit improve in PPI in Malaysia was in line with the rise in inflation on the producer degree for chosen nations which had been affected by provide shortages, primarily of uncooked supplies due to the lockdown ease, opening of the economic system in addition to the struggle between Russia and Ukraine,” he stated.
Mohd Uzir famous that inflation on the producer degree for the United Kingdom rose 15.7 per cent in May 2022 from the 14.7 per cent recorded in April 2022, pushed by increased costs for gas and uncooked supplies which jumped greater than 22.0 per cent yearly.
Similarly, he stated, rising costs of gasoline and vitality merchandise contributed to a ten.8 per cent rise in inflation on the producer degree for the United States in May 2022.
An analogous scenario was seen in Southeast Asian nations reminiscent of Thailand, the place its producer-level inflation recorded a 13.3 per cent surge in May 2022 (April 2022: 12.8 per cent), which was contributed by will increase in the manufacturing and mining sectors, he added. – Bernama
