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Key Takeaways:
PPI Eases: Malaysia’s Producer Price Index (PPI) for local production rose 0.3% year-on-year (YoY) in February 2025, down from 0.8% in January, signaling moderating cost pressures at the producer level.
Agriculture Drives Growth:
The agriculture, forestry and fishing sector continued to lead, up 15.2% YoY, driven by a 26.1% surgein perennial crops.
Mining Sector Contracts Sharply:
Mining output fell 9.7% YoY, deeper than January’s 1.3% drop, due to declines in crude petroleum (-9.8%) and natural gas (-9.4%).
Manufacturing Softens:
Manufacturing PPI fell 0.3% YoY, a smaller drop than January’s 0.6%.
Biggest declines:
Coke & refined petroleum products (-12.7%)
Computer, electronic & optical products (-3.2%)
Utilities:
Electricity & gas supply dipped 0.2%
Water supply remained resilient with a 2.9% increase.
Monthly Comparison:
On a month-on-month basis, PPI rose 0.1% in February, slowing from 0.3% in January.
Summary:
Malaysia’s February PPI points to slower producer inflation, reflecting weaker mining activity and a modest recovery in manufacturing. While agriculture remains a key support, the broad moderation suggests producers are facing mixed cost dynamics, offering a slightly calmer backdrop for inflation and pricing trends moving forward.
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