The PPI is a measure of cost of goods at the factory gate.

In a statement today, chief statistician Uzir Mahidin said the better performance was supported by the mining index, which rose 34.3% from a decline of 28.3% a year earlier, thanks to the crude oil and natural gas prices that increased 33.5% and 39.0%, respectively.

He said January’s performance was also due to a moderate rise in the agriculture, forestry and fishing index, at 12.5% versus an increase of 22.6% in January 2021.

“The manufacturing index also registered an increase of 7% (January 2021: 1.1%), largely due to the increase in the indices of subsectors, namely manufacture of refined petroleum products (19.2%), manufacture of vegetable and animal oils and fats (17.0%) and manufacture of electronic components and boards (0.4%),” he said.

Similarly, the indices of water supply as well as electricity and gas supply rose 1.2% and 0.9%, respectively.

On a month-on-month (m-o-m) comparison, Uzir said the PPI for local production rebounded 1.3% after posting a decline for the first time in 14 months in December 2021.

“The increase was supported by the marginal incline of 4.5% in the agriculture, forestry and fishing index, mainly attributed to the 7.1% rise in palm oil fresh fruit bunch prices,” he said.

He said the mining index, which improved 3.1%, also helped to lift the m-o-m performance.

Uzir said due to the increase in primary commodity prices, the PPI of crude materials for further processing surged 18.3% in January against a decrease of 3.4% in January 2021.