SERVICES PRODUCER PRICE INDEX RISES 1.0% TO 115.8 PTS IN 1Q

The Services Producer Price Index (SPPI) averaged 115.8 points in the first quarter of 2024 (1Q 2024), marking a 1% increase, mirroring the fourth quarter of 2023 (4Q 2023), said the Department of Statistics Malaysia (DoSM).

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said all subsectors registered growth in 1Q 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.

Mohd Uzir highlighted that 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 and 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.