KUALA LUMPUR: Malaysia’s Producer Price Index (PPI) for native manufacturing rose 9.2 per cent year-on-year (y-o-y) in January 2022 from a contraction of 0.1 per cent y-o-y in the identical interval final 12 months, supported by greater costs of crude oil and palm oil merchandise, stated the Department of Statistics Malaysia (DoSM).
The PPI is a measure of prices of products at manufacturing facility gate.
In an announcement as we speak, chief statistician Datuk Seri Dr Mohd Uzir Mahidin stated the higher efficiency was supported by the mining index which rose 34.3 per cent from a decline of 28.3 per cent a 12 months earlier, due to the crude oil and pure fuel costs that elevated 33.5 per cent and 39.0 per cent, respectively.
He stated January’s efficiency was additionally because of a reasonable rise in the agriculture, forestry and fishing index, at 12.5 per cent versus a rise of twenty-two.6 per cent in January 2021.
“The manufacturing index additionally registered a rise of seven per cent (January 2021: 1.1 per cent), largely as a result of improve in the indices of subsectors, specifically manufacture of refined petroleum merchandise (19.2 per cent), manufacture of vegetable and animal oils and fat (17.0 per cent) and manufacture of digital parts and boards (0.4 per cent),” he added.
Similarly, the indices of water provide in addition to electrical energy and fuel provide rose 1.2 per cent and 0.9 per cent, respectively.
On a month-on-month (m-o-m) comparability, Mohd Uzir stated, the PPI for native manufacturing rebounded 1.3 per cent after posting a decline for the primary time in 14 months in December 2021.
“The improve was supported by the marginal incline of 4.5 per cent in the agriculture, forestry and fishing index, primarily attributed to the 7.1 per cent rise in the oil palm contemporary fruit bunches value,” he stated.
He added that the mining index, which improved 3.1 per cent, additionally helped to carry the m-o-m efficiency.
On the PPI for native manufacturing by stage of processing, Mohd Uzir stated as a result of improve in main commodities costs, the index of crude supplies for additional processing surged 18.3 per cent in January 2022 towards a lower of three.4 per cent in January 2021. – Bernama
