KUALA LUMPUR: Malaysia’s Producer Price Index (PPI) increased by 0.3 per cent in 2024 (2023: -1.9 per cent), mainly driven by gains in the agriculture, forestry and fishing sector, according to the Department of Statistics Malaysia (DoSM).
It said the agriculture, forestry and fishing sector recorded a 7.9 per cent increase in 2024 (2023: -13.8 per cent), primarily contributed by the growing of perennial crop index, which surged by 14.1 per cent (2023: -23.1 per cent).
"The animal production index posted a modest increase of 1.2 per cent (2023: 6.8 per cent),” it said in a statement today.
DoSM said the utility sector also remained positive, with indices for electricity and gas supply, as well as water supply increasing by 0.6 per cent and 6.5 per cent, respectively.
Meanwhile, the mining sector declined by 2.0 per cent (2023: -5.9 per cent) and the manufacturing sector posted a marginal decline of 0.3 per cent in 2024 (2023: -0.2 per cent).
In terms of PPI by stage of processing, the finished goods index increased by 1.9 per cent in 2024 (2023:3.1 per cent), and the crude materials for further processing index rose by 0.7 per cent (2023: -9.6 per cent).
In contrast, the intermediate materials, supplies and components index declined by 0.5 per cent (2023: -1.2 per cent).
Meanwhile, the services PPI recorded an increase of 0.7 per cent, primarily driven by the arts, entertainment and recreation (6.7 per cent), accommodation and food and beverages service activities (2.6 per cent) as well as education (0.8 per cent) indices.
Other subsectors that recorded an increase were health and real estate indices, both rising by 0.3 per cent, followed by the professional index (0.2 per cent).
Conversely, the transportation index declined by 1.4 per cent, while the information and communication index remained unchanged. - Bernama
