KUALA LUMPUR, 30 JUNE: The Department of Statistics Malaysia (DOSM) reported that Malaysia’s Producer Price Index (PPI) for domestic output reached a new high of 111.6 index points in May 2021, up 11.9 percent from the same time the previous year. Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement that the growth was fueled by a significant increase in primary industry goods, which led to an increase in mining (68.5 percent), agriculture, forestry, and fishing (60 percent ).
“Additionally, the manufacturing index showed a large increase of 5%, which was impacted by a rise in primary and construction-related commodity costs,” he stated.
Meanwhile, the utility indices, which include water, electricity, and gas, grew by 1.5 percent and 0.1 percent, respectively.
Mohd Uzir stated that the PPI for local output increased by 1% in May 2021, compared to 0.8 percent the previous month.
“The mining index (2.1 percent) drove the growth, followed by agriculture, forestry, and fishing (2%), manufacturing (0.7 percent), electricity and gas supply (0.7 percent), and water supply (0.1 percent),” he stated.
The DOSM also released the PPI for local production by processing stages, which showed that all stages of processing had price increases in May 2021.
The crude materials index for further processing surged 53.6 percent, while the intermediate materials, suppliers, and components index grew 6.9 percent, according to the report.
“As a result of higher raw and intermediate material prices, the completed goods index increased by 0.2 percent, primarily concerning consumer items, which may be reflected in the upcoming monthly Consumer Price Index (CPI),” it continued. Continue reading
