Malaysia’s production price index for July up 0.5%

Malaysian Statistics Department has said the country’s Production Price Index (PPI) rose 0.5% from 128.0 to 128.7 for the month July. This rise is due to the increase in the PPI for local production by 0.9% although the import price index decreased by 0.1%. Year-on-year comparison showed that the PPI for domestic economy declined by 0.2% while the local production index dropped by 0.5% and the import price index up by 0.8%. The PPI for local production moved up by 0.9% in July as compared to previous month. The increase in the overall index was mainly due to positive changes in the indices for three categories – Mining (+7.2%), Agriculture (+1.1%) and Fishing (+0.6%). However, the indices for the remaining sectors showed decrease that is electricity, gas and water supply (-0.3%) and Manufacturing (-0.1%). The PPI comprises the indices of local production, imports and domestic economy. The PPI for Domestic Economy is a composite index based on the price data derived from the local production and import price indices.