Malaysia's service producer price index up 3.3% in 4Q22

KUALA LUMPUR: The services producer price index (SPPI) increased 3.3 per cent in the fourth quarter (4Q) of 2022 compared to 110.7 in the same quarter of the preceding year, the Department of Statistics Malaysia (DOSM) said.

In a statement, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the SPPI averaged 114.3 points in 4Q, with most subsectors higher this quarter particularly in accommodation and food & beverage service activities recording an increase of eight per cent due to the increase in restaurants & mobile food service activities (9.5 per cent).

"Arts, entertainment & recreation subsector increased 5.3 per cent owing to the gambling &

betting activities (6.3 per cent). Meanwhile, transportation subsector increased 5.3 per cent due to passenger air transport (18.9 per cent),” he said.

Mohd Uzir also explained that other subsectors which recorded an increase were education (1.1 per cent), professional (0.5 per cent) and Health (0.3 per cent).

Nevertheless, he said the index of real estate activities and information & communication remained unchanged.

"Quarter on quarter, SPPI rose 0.4 per cent compared to 1.7 per cent recorded in the previous quarter. The increase was due to the accommodation and food & beverage service activities (1.6 per cent), transportation (1.1 per cent), professional (0.2 per cent) and education (0.1 per cent) indices,” he said.

Meanwhile, arts, entertainment & recreation and real estate activities indices recorded decreases of 4.2 per cent and 0.1 per cent respectively.

Overall for the year 2022, Mohd Uzir said SPPI increased 2.1 per cent compared to 0.3 per cent recorded in 2021 mainly due to the accommodation and food & beverage service activities (5.4 per cent), arts, entertainment & recreation (4.3 per cent) and transportation (three per cent) subsectors. - Bernama

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DOSM , Mohd Uzir , SSPI , fourth quarter , subsector


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