Factory prices up 6.5% year-on-year in DecemberPETALING JAYA: The Malaysian producer price index (PPI) increased at its fastest pace on record in December on higher price of crude oil and the weaker ringgit. Due to stronger crude oil prices, crude materials for further processing saw an 18.8% jump from 10.7% in November 2015 to 29.5% last month. But the increase in the consumer price index (CPI) was mitigated by lower prices of communication, transport and clothing. Bank Negara had said inflation would average higher this year due to stronger oil prices. Meanwhile, the weaker ringgit and higher price of crude oil had fuelled the increase in factory prices.

Source: The Star January 31, 2017 21:45 UTC