Malaysia's producer price index contracts 2.3 pct in July-Xinhua

Malaysia's producer price index contracts 2.3 pct in July

Source: Xinhua

Editor: huaxia

2023-08-28 17:17:00

KUALA LUMPUR, Aug. 28 (Xinhua) -- Malaysia's producer price index (PPI), which measures the prices of goods at the factory gate, fell 2.3 percent in July as against a contraction of 4.8 percent in June, official data showed Monday.

The mining sector decreased by 10.8 percent, the Department of Statistics Malaysia said in a statement.

Meanwhile, the manufacturing sector declined by 2.1 percent, dragged down by the manufacture of coke and refined petroleum products and manufacture of food products indices.

The agriculture, forestry and fishing sector, however, posted its first increase in 2023, up 3.6 percent after a double-digit decrease of 20.4 percent in June.

The increase was attributed to the indices for animal production and growing of perennial crops.

For the utility sector, the water supply and electricity and gas supply indices went up 3.1 percent and 0.1 percent, respectively.

On a monthly basis, the PPI for local production marginally increased 0.2 percent in July.