Malaysia's August producer prices jump to 10.7% as mining and energy costs surge

According to data released by Malaysia's Statistics Department, the Producer Price Index for local output climbed to 10.7% in August compared with the same month last year, accelerating from July's 9.7%. The mining sector was the primary driver, with prices soaring 41.2%; crude petroleum extraction rose 49.8% and natural gas extraction 14.7%. Manufacturing prices increased 8.8% year-on-year, led by a 33.5% jump in coke and refined petroleum products and a 12.4% rise in computer, electronic and optical goods.

Agriculture, forestry and fishing prices grew 4.6%, while animal production rose 13.9%. On a monthly basis, the overall PPI rose 1.0%, with mining up 6.7% and manufacturing up 0.4%. The data reflect ongoing pressure from higher global energy and commodity prices on Malaysia's production chain.