FX.co ★ Malaysian Producer Prices Rise Further

The most recent statistics from Malaysia's Department of Statistics reveal an increase in the country's producer prices for the second consecutive month in March. This increase is largely attributed to a significant hike in mining costs.

In March, producer prices escalated by 1.6 percent compared to the previous year, which is notably faster than February’s increase of 0.3 percent. An in-depth look into different sectors highlights an annual rise of 8.3 percent for manufacturing prices and 5.5 percent for agriculture, forestry, and fishing in March. Meanwhile, in the manufacturing sector, prices moved up by a modest 0.6 percent as the price index for the utilities sector saw a mere 0.1 percent increase.

Comparing monthly figures, there was a 1.6 percent climb in producer prices in March as opposed to February's rate at 0.7 percent. The latest official data maintains Malaysia's consumer price inflation at a steady rate of 1.8 percent for March. A slight deceleration was observed in food inflation, while utilities took a turn and escalated at a faster pace.