Malaysia’s producer price index for domestic output rose 10.7 per cent from a year earlier in August, up from 9.7 per cent in July. Mining posted the largest sector increase, led by crude-petroleum extraction. The measure tracks prices received by producers, so its acceleration is a signal about costs at the start of the supply chain rather than a reading of household inflation.
Malaysia’s Department of Statistics said the producer price index for domestic output rose 10.7 per cent from a year earlier in August, compared with 9.7 per cent in July. The index rose 1.0 per cent from July to August after a 0.7 per cent monthly gain in July. The annual and monthly rates compare different periods. The index tracks prices producers receive for goods made domestically.[1], [2]
Mining recorded the largest annual increase among the main sectors, at 41.2 per cent in August after 30.5 per cent in July. Prices for crude petroleum extraction rose 49.8 per cent from a year earlier, and natural gas extraction rose 14.7 per cent. Mining prices also rose 6.7 per cent on the month, against 1.1 per cent in July. These are producer prices for mining output, not a reading of nationwide consumer prices.[1]
Manufacturing producer prices were up 8.8 per cent year on year in August, following an 8.2 per cent annual increase in July. Its monthly rate, however, slowed from 0.8 per cent to 0.4 per cent. Prices for coke and refined petroleum manufacturing rose 33.5 per cent from a year earlier; computer and electronic products rose 12.4 per cent. By processing stage, crude materials increased 24.8 per cent, intermediate goods 9.6 per cent and finished goods 3.1 per cent. Finished goods edged up 0.1 per cent on the month.[1]
