PETALING JAYA: Malaysia’s producer price index (PPI) for local production fell at a slower rate of 2.1% in December 2020 compared to decline of 3% in November 2020, according to the latest figure by the Statistics Department.
The country’s chief statistician Datuk Seri Mohd Uzir Mahidin said the month saw a continuous double-digit increase in the index of agriculture, forestry & fishing at 23.5% and a positive change in manufacturing index to 0.2%, which reinforced the momentum of the overall index.
Similarly, the index of water supply also rose 0.7%. However, the data reported that the mining and electricity & gas supply indices still recorded a decrease of 40.0% and 1.7% respectively.
“On a monthly basis, the PPI local production rose 1.7% in December 2020. The increase was supported by the index of Mining which recorded a double-digit increase of 13.0%, followed by agriculture, forestry & fishing at 4.2% and manufacturing at 0.9%,” said Uzir in a statement today.
Meanwhile, the electricity & gas supply and water supply indices declined 0.9% and 0.2% respectively.
From January to December last year, the PPI local production decreased 2.7%, equivalent to the changes for the period of January to November 2020.
PPI for local production for the fourth quarter 2020 declined 2.9% to 103.2 as compared to 106.3 in the same quarter of the previous year. On a quarterly basis, the PPI local production increased 2.0% as compared to 1.2% in the third quarter 2020.