Services Producer Price Index Up 0.5 Pct In 4q 2024 - DOSM

KUALA LUMPUR, Feb 6 (Bernama) -- Malaysia's Service Producer Price Index (SPPI) continued its uptrend, rising by 0.5 per cent in the fourth quarter (4Q) of 2024, compared to 0.3 per cent in 3Q 2024, reflecting a rise in services sector pricing, according to the Statistics Department (DoSM)

Chief statistician, Datuk Sri Dr Mohd Uzir Mahidin noted that the arts, entertainment and recreation index grew by 6.1 per cent in 4Q 2024 as compared to 5.4 per cent in 3Q 2024, driven by other entertainment and recreation activities (1.9 per cent).

Meanwhile, the accommodation, food and beverage service activities index rose by 3.1 per cent (3Q 2024: 2.4 per cent), supported by increases in restaurants and mobile food service activities (3.4 per cent) and beverage service activities (3.2 per cent) indices.

"The education index rose by 0.8 per cent, maintaining the same pace as in the previous quarter, due to secondary education (1.7 per cent). 

"Additionally, both health and professional indices saw an incline of 0.4 per cent,” he said in a statement today.

At the same time, Mohd Uzir noted that the transportation index posted a decrease of 2.4 per cent (3Q 2024: -2.0 per cent), mainly due to the air passenger transportation index (-9.5 per cent).

Similarly, the real estate activities index recorded a slight decrease of 0.2 per cent, while the information and communication index edged down by 0.1 per cent, influenced by a decline in wireless telecommunications activities (-0.2 per cent), he added.

On an annual basis, the chief statistician highlighted that the SPPI posted a marginal increase of 0.7 per cent in 2024, compared to a 2.1 per cent rise in 2023.

The increase was primarily driven by the arts, entertainment and recreation index (6.7 per cent), followed by accommodation and food and beverage service activities (2.6 per cent) and education (0.8 per cent) indices, he said.

"Other sub-sectors that recorded an increase included health and real estate indices, both rising by 0.3 per cent, while the professional index rose by 0.2 per cent.

"In contrast, the transportation index declined by 1.4 per cent, whereas the information and communication index remained unchanged," he noted.

-- BERNAMA