KUALA LUMPUR (July 29): Malaysia's producer price index (PPI) rose by 1.6% year-on-year (y-o-y) in June 2024, from 1.4% in the previous month, according to the Department of Statistics Malaysia (DOSM).

In the latest monthly PPI local production report, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said all sectors registered an increase for the fourth consecutive month since March.

He said the mining sector rose by 4.6%, compared with 6.6% in May, contributed by the extraction of natural gas (up 4.6%) and crude petroleum (4.5% higher).

The agriculture, forestry and fishing sector climbed to 3.4% from 1.3% in the previous month, contributed by the indices of growing of perennial crops (7.5%) and animal production (1.7%). 

The manufacturing sector edged up by 1.1% from 1.0% in May, driven by the manufacture of computer, electronic and optical products index (9.2%).

Meanwhile, for the utility sector, the water supply index jumped 7.8% in June, versus 8.7% in May, while the electricity and gas supply index increased by 1.0%, compared with 1.5% in the preceding month.

On a month-on-month basis, Mohd Uzir said the PPI for local production slipped by 0.1% in June, against -0.9% in May, due to a drop in the mining sector of 3.4% (May: -5.5%), attributed to extraction of natural gas (-3.7%) and extraction of crude petroleum (-3.3%). 

The chief statistician said the average monthly price of crude palm oil (CPO) was about RM3,960 per tonne in June, up from RM3,900 per tonne in the previous month.

He noted the rise in CPO prices was due to the anticipated limited supply from Malaysia and Indonesia towards the end of 2024, coupled with an increase in palm oil exports. 

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