Services producer price index rises 1% in Q1

Services producer price index rises 1% in Q1

The arts, entertainment and recreation subsector rose by 7.5%, driven by a 2.1% increase in other amusement and recreation activities, says the statistics department.

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Accommodation, food and beverage services rose by 2.5% in Q1 2024, partly due to increased mobile food services.
PETALING JAYA:
The Services Producer Price Index (SPPI) averaged 115.8 points in the first quarter of 2024 (Q1 2024), marking a 1% increase, mirroring the fourth quarter of 2023 (Q4 2023), said the statistics department.

Chief statistician Uzir Mahidin said all subsectors registered growth in Q1 2024, except for transportation, which remained unchanged.

“The arts, entertainment and recreation subsector saw a 7.5% rise (Q4 2023: 5.5%), attributed to a 2.1% increase in other amusement and recreation activities.

“Meanwhile the index of accommodation, food and beverage service activities increased by 2.5% (Q4 2023: 3.4%) due to increases in beverage service activities (3.3%) and restaurants and mobile food service activities (2.8%),” he said in a statement.

Uzir said other subsectors, such as education (0.8%) and real estate activities (0.6%), also experienced slight increases.

Additionally, health and professional indices both rose by 0.2%, followed by information and communication by 0.1%.

“Quarter-on-quarter comparisons indicate that SPPI increased by 0.3% from the previous quarter’s 0.1%, driven by transportation (0.7%), accommodation, food and beverage service activities (0.5%), education (0.3%), and arts, entertainment and recreation (0.2%).

“In the meantime, other subsectors, including real estate activities, health, information and communication and professional indices recorded an increase of 0.1% each,” he added.

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