Malaysia’s producer price index down 1.9 pct in 2023

KUALA LUMPUR, Oct. 3 (Xinhua) — Malaysia’s producer price index for local production decreased by 1.9 percent year-on-year in 2023 mainly due to the contraction in agriculture, forestry and fishing by 13.8 percent, official data showed Thursday.
The Department of Statistics Malaysia (DOSM) said in a statement that as the largest component in this sector, the double-digit decline in the growing of perennial crops index by negative 23.1 percent led to the downturn of the overall sector.
The mining sector decreased by 5.9 percent, while the extraction of crude petroleum fell by double-digit of 10.1 percent.
The extraction of natural gas increased at a slower rate of 9.9 percent.
In the meantime, the manufacturing sector recorded a marginal decrease of 0.2 percent. ■