Malaysia's Producer Price Index Drops at Quicker Pace in February

MT Newswires Live03-27 14:49

Malaysia's producer price index (PPI) contracted by 3.4% year on year in February, extending the 2.9% decline in January, the Department of Statistics Malaysia reported Friday.

The PPI measures the average change in prices charged by domestic producers for goods and services.

The fall was led by the agriculture, forestry and fishing sector, which slipped 8.7%, affected by a 15.1% drop in the growing of perennial crops index. The mining sector decreased by 8.5%.

The manufacturing sector fell 2.7% as well, driven by declines in the manufacture of coke and refined petroleum products and food products.

In contrast, the water supply index rose 11.9%, and electricity and gas supply increased 4.7%, the data showed.

Monthly, the PPI fell 0.5% in February after a 0.1% rise in January, the department said.

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