Price pressure likely to push consumer prices higher: MIDF

With Malaysia’s Producer Price Index (PPI) remaining above the consumer price index (CPI) for the 15th consecutive month, the upward price pressures affecting the producers are likely to push consumer prices higher, said MIDF Research (MIDF).

MIDF 研究机构（MIDF）表示，随着马来西亚的生产者价格指数（PPI）连续第 15 个月高于消费者价格指数（CPI），影响生产者的价格上涨压力可能会推高消费者价格。

On 28th April, the Department of Statistics Malaysia (DOSM) said Malaysia’s PPI for local production, which measures costs of goods at the factory gate, recorded a two-digit increase for the first time this year at 11.6% in March 2022.

马来西亚统计局（DOSM）4月28日表示，马来西亚本地生产的 PPI（衡量工厂门口的商品成本）在 2022 年 3 月录得今年首次增长 11.6% 的两位数增长。

“The acceleration in PPI inflation to a four-month high of +11.6% year-on-year (y-o-y) in March 2022 had exceeded expectations.

“2022 年 3 月，PPI 通胀加速至同比增长 11.6% 的四个月高点，超出了预期。

“However, the sharper rise in prices of primary goods, particularly agriculture, forestry and fishing (+24.9% y-o-y) and mining goods (+28.2% y-o-y) was generally in line with our expectation in view of the high commodity prices,” MIDF said in a note dated 29th April 2022.

然而，鉴于大宗商品价格高企，初级商品价格的大幅上涨，特别是农业、林业和渔业（同比增长 24.9%）和矿产品（同比增长 28.2%），总体上符合我们的预期， ” MIDF在4月29日一份报告中说。

The research house noted that the manufacturing PPI also rose faster at +8.9% y-o-y as factories faced challenges from rising input costs and supply constraints.

该研究机构指出，由于工厂面临投入成本上升和供应限制带来的挑战，制造业 PPI 也同比增长 8.9%。

“Meanwhile, the sharper rise in agriculture PPI points to a continued uptrend in food prices as producers will pass more cost increases to their customers.

“与此同时，农业生产者价格指数的大幅上涨表明食品价格持续上涨，因为生产商将把更多的成本增加转嫁给他们的客户。

“In the coming months, we anticipate the high PPI inflation to continue as producers have to bear rising input costs amid supply challenges and high commodity prices,” it added.

它补充道“在未来几个月，我们预计 PPI 高通胀将持续，因为在供应挑战和大宗商品价格高企的情况下，生产商不得不承担不断上涨的投入成本。”