Malaysia's producer price index up 12.6% y-o-y in November

KUALA LUMPUR: The Producer Price Index (PPI) for local production increased 12.6 per cent year-on-year (y-o-y) in November 2021 as opposed to a decline of 3.0 per cent in the same month last year, mainly due to the surging cost of raw materials, said the Department of Statistics Malaysia.

Chief statistician Datuk Sri Mohd Uzir Mahidin said the increase in November 2021 was attributed mainly to the mining index that soared 71.2 per cent in contrast to a 45.8 per cent decline in November 2020, driven by higher prices for crude oil and natural gas.