Malaysia's producer price index rises 11.2 pct in May-Xinhua

Malaysia's producer price index rises 11.2 pct in May

Source: Xinhua| 2022-06-28 16:52:53|Editor: huaxia

KUALA LUMPUR, June 28 (Xinhua) -- Malaysia's producer price index (PPI), which measures the prices of goods at factory gate, rose 11.2 percent year-on-year in May on higher commodity prices, official data showed on Tuesday.

The increase in the PPI for local production was attributed to the mining index that increased 20.6 percent, the Department of Statistics Malaysia (DOSM) said in a statement.

Meanwhile, agriculture, forestry and fishing grew by 16.7 percent, mainly led by an increase in indices of growing of perennial crops, fishing and non-perennial crops.

Manufacturing index also registered a double-digit growth of 10.1 percent for the first time since August 2011, underpinned by an increase in indices of subsectors namely manufacture of vegetable and animal oils and fats, refined petroleum products, basic chemicals, fertilizers and nitrogen compounds, plastics and synthetic rubber in primary forms.

In addition, the indices of water supply edged up 1.2 percent, while electricity and gas supply decreased 0.6 percent.

On a month-on-month basis, the PPI for local production gained 1.2 percent as compared to 0.2 percent recorded in the previous month.

According to the DOSM, the double-digit increase in PPI in Malaysia was in line with the rise in inflation at the producer level for selected countries which was affected by supply shortages, mainly raw materials due to lockdown ease, opening of economy, and the Russia-Ukraine conflict.