KUALA LUMPUR: Malaysia's Producer Price Index (PPI) declined to -4.6 per cent in May 2023 from -3.0 per cent in April 2023.
PPI measures the prices of goods at the factory gate.
The department said the agriculture, forestry, and fishing sector continue to show a negative trend for 11 consecutive months, recording -27.2 per cent in May.
Meanwhile, the mining sector also declined by a double-digit of -10.7 per cent in May 2023 from -4.7 per cent in the previous month.
In the meantime, the manufacturing sector marginally declined by -1.1 per cent in May from 0.1 per cent in April while water supply and electricity & gas supply edged up 3.0 per cent and 1.2 per cent, respectively.
On a monthly basis, the PPI local production posted a decline of -0.4 per cent in May after an increase of 0.2 per cent in the previous month while the mining sector dropped -2.5 per cent, due to the decline of both extraction of crude petroleum (-2.4 per cent) and extraction of natural gas (-2.7 per cent) indices. The agriculture, forestry & fishing sector went down -0.7 per cent, with the index of growing of perennial crops posting a decline of -2.3 per cent while the manufacturing sector also recorded a decline of -0.2 per cent in May 2023.
On the other hand, the water supply index went down by -0.1 per cent.
The electricity & gas supply index moved up by 0.6 per cent. In terms of PPI local production by stage of processing, index of crude materials for further processing declined further to -20.1 per cent in May 2023 from -17.6 percent in the previous month, with the non-food materials index down - 24.2 per cent.
The Intermediate materials, supplies & components index decreased by -1.6 per cent due to the decline in materials & components for manufacturing (-6.2 per cent) and containers (-3.7 per cent) indices.
Meanwhile, the finished goods index went up 3.0 per cent contributed by the increase of Capital requirement (3.8 per cent) and finished consumer goods (2.0 per cent).
DOSM said all stages of processing recorded decreases on a monthly basis, with crude materials for further processing declined by -0.9 per cent, intermediate materials, supplies & components (-0.4 per cent) and Finished goods (-0.2 per cent).