Malaysia’s Services Producer Price Index Rises 2.7 Pct in Q2

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Malaysia’s services producer price index (SPPI) rose 2.7 percent in the second quarter of 2023 from a year ago as most subsectors recorded increases, official data showed Monday.

The Department of Statistics Malaysia (DOSM) said in a statement that the accommodation and food and beverage service activities rose by 6.3 percent due to the increase in restaurants and mobile food service activities.

Meanwhile, the transportation sub-sector grew 4.8 percent, contributed by passenger air transport.

The other sub-sectors that recorded increases were arts, entertainment and recreation (2 percent), education (1 percent), professional (0.5 percent) and health (0.3 percent).

On a quarter-on-quarter basis comparison, the SPPI marginally rose by 0.2 percent compared to 0.3 percent recorded in the previous quarter.

This was due to the increase in arts, entertainment and recreation, accommodation and food and beverage service activities, education and professional subsectors.

SPPI measures changes in producer prices for Malaysia’s domestic services sector.