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Financial News: Malaysia Producer Price Inflation Rises To 1.9%

Malaysia Producer Price Inflation Rises To 1.9%

05/28/2024 - 04:56:00 (RTTNews)

(RTTNews) - Malaysia's producer price inflation accelerated further in April to the highest level in sixteen months, largely due to a sharp rise in mining costs, figures from the Department of Statistics showed on Tuesday.

Producer prices rose 1.9 percent year-on-year in April, faster than the 1.6 percent increase in March.

Further, this was the strongest inflation since December 2022, when prices had risen 3.5 percent.

Among sectors, manufacturing prices climbed 10.0 percent annually in April, and those for agriculture, forestry, and fishing grew 5.4 percent.

Prices in the manufacturing sector rose 0.8 percent, and the price index for the utility sector increased by 1.0 percent.

On a month-on-month basis, producer prices climbed 0.5 percent in April versus a 1.6 percent gain in March.

The latest official data showed that consumer price inflation in Malaysia held steady for the second straight month, at 1.8 percent in April.

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