Producer prices in Malaysia experienced a decline for the second consecutive month in October, according to data released by the Department of Statistics on Tuesday. October saw a year-on-year decrease of 2.4% in producer prices, following a 2.1% drop in September. This marks the sharpest decline since June 2023.
Breaking it down by industry, the mining sector witnessed the most significant contraction, with prices plummeting by 17.3% compared to the previous year. The manufacturing sector also saw its price index fall by 2.6%.
Conversely, prices in the agriculture, forestry, and fishing industries increased by 13.8%, and the utility sector's price index saw a modest rise of 0.8%.
On a month-to-month comparison, producer prices fell by 0.7% in October, improving slightly from a more substantial decline of 1.7% in September.
