Malaysia Producer Prices Soar on Crude Oil and Mining Surge

Malaysia's producer prices surged in August, driven by sharp increases in mining costs and crude oil prices. According to data from the Statistics Department, the Producer Price Index (PPI) for local production rose 10.7% year-on-year, up from 9.7% in July.

The biggest driver of this increase was the mining sector, which saw producer prices surge 41.2% year-on-year, accelerating from 30.5% in July. Crude petroleum extraction jumped 49.8%, while natural gas extraction rose 14.7%.

Manufacturing producer prices also strengthened, rising 8.8% year-on-year from 8.2% in July. The increase was led by a 33.5% gain in coke and refined petroleum products and a 12.4% rise in computer, electronic and optical products.