Services producer price index up 1% in Q4 2023

Services producer price index up 1% in Q4 2023

The arts, entertainment, and recreation services subsector rose by 5.5%, attributed to an increase in gambling and betting activities, says the statistics department.

Accommodation, food, and beverage service activities increased by 3.4% in Q4 2023, driven by a rise in beverage, restaurant, and mobile food service activities.
PETALING JAYA:
Malaysia’s services producer price index (SPPI) increased 1% year-on-year in the fourth quarter (Q4) of 2023 to average 115.5 points compared to 1.4% in the third quarter (Q3), said the statistics department.

Chief Statistician Uzir Mahidin said most subsectors recorded an increase in the quarter under review.

“The arts, entertainment and recreation subsector rose by 5.5% (Q3 2023: 0.8%), attributed to an increase in gambling and betting activities (6.2%).

“Accommodation and food and beverage service activities went up by 3.4% (Q3 2023: 4.6%) due to increases recorded by beverage service activities (4%) and restaurants and mobile food service activities (3.8%),” he said in a statement.

Uzir said other subsectors that recorded marginal growth were education (1%), real estate activities (0.6%), health (0.3%), and professional (0.2%).

However, the transportation index saw a decline of 0.5%, particularly due to passenger air transport (-2.7%).

“Meanwhile, the index of information and communication was unchanged,” he said.

On an annual basis, the SPPI increased by 2.1% in 2023, which was similar to the previous year.

“With the exception of information and communication which remained unchanged, all other subsectors recorded an increase in 2023,” said Uzir.

On a quarter-on-quarter comparison, he said, the SPPI edged up by 0.1% compared to the 0.4% recorded in the previous quarter.

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