Malaysia’s PPI declines in Oct. ’24

Malaysia’s Producer Price Index (PPI) continued its downward trend, dropping by 2.4 per cent in October 2024 compared to the previous month’s 2.1 per cent decline, as per a recent report from the Department of Statistics Malaysia (DOSM) on Wednesday.

The decline was primarily driven by the mining sector, which experienced a 17.3 per cent decrease. This was largely due to a 21.7 per cent decline in the extraction of crude petroleum index and a 1.7 per cent drop in the extraction of natural gas index.

The manufacturing sector also contributed to the overall decline, falling by 2.6 per cent. The Manufacture of coke & refined petroleum products index was particularly affected, decreasing by 21.6 per cent.

In contrast, the Agriculture, forestry & fishing sector saw a significant increase of 13.8 per cent, driven by a 24.3 per cent rise in the growing of perennial crops index, the report showed.

Attribution: The DOSM report

Subediting: M. S. Salama