Financial News: Malaysia Producer Price Inflation Rises To 3.5%

Malaysia Producer Price Inflation Rises To 3.5%

01/30/2023 - 03:36:00 (RTTNews)

(RTTNews) - Malaysia's producer price inflation accelerated in December after easing in the previous month, figures from the Department of Statistics showed on Monday.

Producer prices rose 3.5 percent year-on-year in December, following a 3.2 increase in November. In October, the inflation rate was 4.0 percent.

Among sectors, manufacturing prices grew the most, by 6.1 percent annually in December, followed by a 3.8 percent gain in the water supply segment.

Mining prices advanced 3.7 percent and those of electricity and gas supply rose 1.0 percent, while the price index for agriculture, forestry, and fishing declined 17.5 percent.

Based on the stage of processing, prices for crude materials declined 7.7 percent in December.

Meanwhile, prices for intermediate materials, suppliers and components, and finished goods climbed by 7.2 percent and 4.4 percent, respectively.

On a month-on-month basis, producer prices decreased 0.3 percent in December, after a 0.6 percent growth in the prior month.

The annual average producer price inflation eased to 7.8 percent in 2022 from 9.5 percent in 2021.

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