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Malaysia's Producer Price Index Sprints to 5.4% in April on Upstream Oil Surge

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Malaysia's Producer Price Index (PPI) rose 5.4% year-on-year in April, up from 1.1% in March, marking the strongest increase since August 2022, the Department of Statistics Malaysia reported Monday.

The mining sector surged 53.4%, driven by a 74.5% jump in crude petroleum extraction, while the water supply index increased 10.8% and electricity and gas supply rose 10.6%.

Agriculture, forestry and fishing grew 2.7%, supported by gains in fishing and perennial crop production, while manufacturing rose 1.1%, led by higher output in computer, electronic and optical products as well as refined petroleum products.

On a month-on-month basis, the PPI local production index increased 3.2%, compared with 4.1% in the previous month, the data showed.

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