Services producer price index up 3.3% in Q4 2022
Demand for eating in and out has helped push up the services producer price index, according to the Department of Statistics Malaysia. – The Malaysian Insight file pic, February 7, 2023.
THE services producer price index increased 3.3% in the fourth quarter of 2022 compared to the same quarter of the preceding year, the Department of Statistics Malaysia said. In a statement, chief statistician Mohd Uzir Mahidin said the SPPI averaged 114.3 points in Q4, with most subsectors higher this quarter, particularly in accommodation and food and beverage services , due to the increase in restaurants and mobile food services .“Meanwhile, transport increased 5.3% due to passenger air transport ,” he said.Nevertheless, he said the index of real estate, and information and communication remained unchanged.
Meanwhile, arts, entertainment and recreation, and real estate indices recorded decreases of 4.2% and 0.1% respectively. Overall for the year 2022, Mohd Uzir said SPPI increased 2.1% compared to 0.3% recorded in 2021 mainly due to accommodation and food & beverage services ; arts, entertainment and recreation ; and transport . – Bernama, February 7, 2023.
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