Malaysia's producer price index rises 3.5 pct in December 2022

KUALA LUMPUR, Jan. 30 (Xinhua) -- Malaysia's producer price index, which measures the prices of goods at factory gate, rose 3.5 percent in December 2022 as compared to 3.2 percent in November last year, official data showed Monday.

The Department of Statistics Malaysia said in a statement all sectors indicated an increase except agriculture, forestry and fishing sectors.

According to the DOSM, the manufacturing sector increased 6.1 percent in December last year, underpinned by the growth of coke and refined petroleum products, computer, electronic and optical products and chemicals and chemical products.

Meanwhile, the mining sector expanded by 3.7 percent in December 2022.

The water supply and electricity and gas supply sectors also recorded an increase of 3.8 percent and 1 percent, respectively.

Agriculture, forestry and fishing sector, however, recorded a fall of 17.5 percent last month, dragged by the contraction in the index of growing of perennial crops.

On month-on-month comparison, the producer price index for local production edged down 0.3 percent in December 2022.

In the fourth quarter of 2022, the PPI for local production climbed 3.5 percent, supported by the growth in manufacturing (6.6 percent), water supply (4.3 percent), mining (1.8 percent) and electricity and gas supply (1.2 percent) indices.

Quarter-on-quarter shows that the PPI slumped 0.7 percent.

Last year, the PPI local production rose 7.8 percent, slightly lower than 9.5 percent recorded in 2021.