PPI FOR LOCAL PRODUCTION DECREASES 3.9 PCT IN SEPTEMBER 2020

KUALA LUMPUR, Oct 28  -- The Producer Price Index (PPI) local production in September 2020 fell 3.9 per cent year-on-year 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 attributed 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, today.

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 after 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