Surging cost of raw materials pushes producer index up 12.6% | The Malaysian Insight

Chief statistician Mohd Uzir Mahidin says the increase in November 2021 was attributed mainly to the mining index that soared 71.2% in contrast to a 45.8% decline in November 2020, driven by higher prices for crude oil and natural gas. – The Malaysian Insight file pic, December 30, 2021.

THE producer price index for local production increased 12.6% year-on-year in November 2021, as opposed to a decline of 3.0% in the same month last year, mainly due to the surging cost of raw materials, said the Department of Statistics Malaysia. Chief statistician Mohd Uzir Mahidin said the increase in November 2021 was attributed mainly to the mining index that soared 71.2% in contrast to a 45.8% decline in November 2020, driven by higher prices for crude oil and natural gas.

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