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Malaysia Producer Price Inflation Accelerates In February

Malaysia’s producer prices increased at a faster pace in February, mainly due to rise in prices of mining, figures from the Department of Statistics showed on Tuesday.

The producer price index rose 9.7 percent year-on-year in February, following a 9.2 percent increase in January.

Among sectors, prices of mining increased the most, by 23.3 percent annually. in February and prices for agriculture, forestry and fishing grew 17.7 percent.

Manufacturing costs grew 7.9 percent. Prices for water supply and electricity and gas supply increased 1.4 percent and 0.8 percent, respectively.

On the basis of stage of processing, prices for crude materials gained 17.7 percent yearly in February and those for intermediate materials, suppliers and components gained 11.4 percent.

Meanwhile, prices for finished goods declined 0.2 percent.

On a month-on-month basis, producer prices rose 2.0 percent in February, following a 1.3 percent increase in the preceding month.

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