Producer price index hits new record in October 2021 after surging 13.2%

KUALA LUMPUR: The Producer Price Index (PPI) for local production surged 13.2 per cent year-on-year (y-o-y) in October 2021 to hit a new record high, mainly due to higher commodity prices, said the Department of Statistics Malaysia.

The index, which measures the costs of goods at ex-factory prices in the local economy and indicates the inflation from the producers’ perspective, showed a 3.6 per cent y-o-y drop in the same month of the preceding year.