In November, Malaysia experienced a continued decline in producer prices for the third month in a row, although the rate of decrease showed signs of slowing. This information, released by the Department of Statistics on Tuesday, indicates a complex economic landscape.
The annual comparison reveals a 0.4 percent drop in producer prices for November, a lesser decline compared to the 2.4 percent reduction observed in October, which marked the sharpest fall since June 2023. Market expectations had forecasted a decline of 1.8 percent.
Sector-wise analysis reveals that the mining industry saw the most significant decrease, with prices dropping by 8.3 percent annually. However, this fall was significantly lessened from the 17.3 percent decline recorded in the previous month. The manufacturing sector also reflected a decrease, with prices down by 1.8 percent.
Conversely, the agriculture, forestry, and fishing sectors experienced a substantial price increase of 21.8 percent. Additionally, the utility sector recorded a modest price rise of 0.9 percent.
On a monthly basis, producer prices rose by 1.4 percent in November, recuperating from a 0.7 percent decline in October.