PETALING JAYA: Malaysia’s Producer Price Index (PPI), which measures the value modifications of products on the producer stage, elevated by 1.4% in May 2024 in contrast with 1.9% in the earlier month.
Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin mentioned that just like the earlier month, all sectors registered increasesin May.
The mining sector elevated by 6.6% from a double-digit improve of 10 in the earlier month, contributed by extraction of crude petroleum (7.2%) and extraction of pure fuel (4.6%) indices.
“The agriculture, forestry & fishing sector went up barely by 1.3% (April: 5.4%), with the index of animal manufacturing and rising of perennial crops up by 3.7% and three.1%, respectively. At the identical time, the manufacturing sector elevated additional by 1.0% (April: 0.8%) because of the manufacture of laptop, digital & optical merchandise index (9.6%),” he mentioned.
For the utility sector, the water provide index went up 8.7%, whereas the electrical energy & fuel provide index elevated by 1.5%.
On a month-to-month foundation, PPI native manufacturing went down by 0.9% from a rise of 0.5% recorded in April. The main sectors skilled a downturn, and this led to a lower in the general index. The mining sector declined by 5.5% (April: 2.1%) attributed to extraction of crude petroleum (-6.8%) and extraction of pure fuel (-1.7%) indices.
The agriculture, forestry & fishing sector decreased by 4.6% in comparison with a 0.7% improve in the earlier month, largely because of the rising of perennial crops index (-7.8%).
Likewise, the manufacturing sector was down marginally by 0.1% (April: 0.3%) because of the manufacture of coke and refined petroleum merchandise (-2.5%).
Meanwhile, the electrical energy & fuel provide and the water provide indices remained constructive, recording increases of 1.1% and 1.4%, respectively.
On PPI native manufacturing by stage of processing, Mohd Uzir mentioned, “The crude supplies for additional processing index elevated at a slower tempo of three.7% (April: 7.4%) contributed by the non-food supplies index (4.4%). In the meantime, the completed items index elevated additional by 3.3% (April: 2.4%), contributed by the capital gear (6.1%) index.”
However, he added, the intermediate supplies, provides & elements decreased by 0.1%, just like the earlier month, attributed to the processed gas and lubricants (-10.1%) index.
On a month-to-month foundation, the crude supplies for additional processing index declined by 4.3%, whereas the intermediate supplies, provides & elements index decreased by 0.4%. Meanwhile, the completed items index was up by 0.7%.
Speaking about chosen commodity costs, Mohd Uzir mentioned, “The common value of crude palm oil was RM3,902.50 per tonne in May 2024, a rise of two.8% from May 2023, however declined by 8.3% as in opposition to the April 2024 value.”
According to MIDF Research, the value momentum subsided sooner than anticipated, returning to February 2024 costs as the chance of scorching and dry climate has lessened.
