Malaysia's Producer Inflation Accelerates to 10.7% in August

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Malaysia's Producer Inflation Accelerates to 10.7% in August

MT Newswires Live12:14

The Producer Price Index for local production in Malaysia rose 10.7% year over year in August, accelerating from a 9.7% increase in July, according to data from the Department of Statistics Malaysia released Monday.

The reading was higher than the 10.3% consensus forecast tracked by Trading Economics.

The year-over-year acceleration was driven primarily by the mining sector, which rose 41.2% from 30.5% in July, and the manufacturing sector, which rose 8.8% from 8.2% in July.

In contrast, the agriculture, forestry and fishing sector rose 4.6%, moderating from 7.2% previously.

On a month-over-month basis, the headline PPI increased by 1% in August, up from 0.7% in July.

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