KUALA LUMPUR, Feb 27 — The Producer Price Index (PPI) for local production, which measures prices of goods at the factory gate, grew at a slower pace of 1.3 per cent year-on-year...
KUALA LUMPUR, Feb 27 — The Producer Price Index for local production, which measures prices of goods at the factory gate, grew at a slower pace of 1.3 per cent year-on-year in January 2023 compared with 3.5 per cent y-o-y in December 2022, the Department of Statistics Malaysia reported today.
Moreover, the mining index slipped 2.2 per cent y-o-y last month after growing 3.7 per cent in December 2022. It was dragged down mainly by the mining index which shrank 2.2 per cent from a growth of 3.7 per cent in the previous month, and the manufacturing index which slipped 0.7 per cent after staying flat in December 2022.
On the outlook, chief statistician Datuk Seri Mohd Uzir Mahidin said that based on global economic projections, commodities are expected to experience a modest decline in 2023 compared to last year due to disruptions caused by Russia’s invasion of Ukraine, coupled with sluggish global demand and geopolitical pressure between the US and China.
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