Saturday 13 Apr 2024
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KUALA LUMPUR (Feb 7): Malaysia’s services producer price index (SPPI), which measures producer prices for the domestic services sector, rose 1% in the fourth quarter of 2023 (4Q2023) to 115.5 points from 115.4 points in the same period a year earlier, according to the Department of Statistics Malaysia (DOSM).

In a statement, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the arts, entertainment and recreation subsector rose by 5.5%, while accommodation and food and beverage (F&B) service activities grew 3.4%.

The education subsector, meanwhile, rose 0.1%, followed by real estate activities (0.6%), health (0.3%) and professional (0.2%).

“However, the index of transportation recorded a decline of negative 0.5% particularly due to passenger air transport (-2.7%),” he said.

On a quarter-on-quarter comparison, SPPI increased slightly by 0.1% as compared to the 0.4% recorded in 3Q2023, driven by accommodation and F&B service activities, real estate activities, and arts, entertainment and recreation.

Mohd Uzir summarised further that 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. Accommodation and F&B service activities went up by 5.6%, transportation increased by 2.9%, and arts, entertainment and recreation [rose] by 2.3%.

“Other subsectors that posted increases were education (1.0%), professional (0.4%), health (0.3%) and real estate activities (0.2%),” he added.

Edited BySurin Murugiah
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