Overview

Malaysia’s Producer Price Index went down further by negative 1.5 per cent in November 2023

• Malaysia’s Producer Price Index (PPI) which measures the prices of goods at the factory gate, went down further by negative 1.5 per cent in November 2023 as compared to negative 0.3 per cent in October 2023.
  

• The decrease was due to all sectors except the Water supply which increased by 1.0 per cent in this month. The Mining sector decreased by negative 4.7 per cent (October 2023: 0.5%) owing to the declined in both Extraction of natural gas (-15.2%) and Extraction of crude petroleum (-1.1%) indices. The Manufacturing sector continued to drop by negative 1.4 per cent (October 2023: 0.7%) dragged down by Manufacture of coke & refined petroleum products (-11.7%) and Manufacture of food products (-4.5%) indices. At the same time, the Agriculture, forestry & fishing sector decreased by negative 0.4 per cent (October 2023: 3.8%) due to the decline in Growing of perennial crops (-1.5%). The Electricity & gas supply sector also went down negative 0.6 per cent.

• On a monthly basis, PPI Local Production further declined by negative 0.7 per cent in November 2023 as compared to a negative 0.3 per cent decline in the previous month. The Mining sector fell negative 4.7 per cent with both Extraction of crude petroleum (-5.7%) and Extraction of natural gas (-1.2%) indices posting a decrease. At the same time, the Manufacturing sector went down by negative 0.5 per cent, affected by index of Manufacture of coke & refined petroleum products (-3.9%) and Manufacture of food products (-0.4%). The Electricity & gas supply sector also decreased by negative 0.2 per cent in this month. On the other hand, the Agriculture, forestry & fishing sector went up 1.3 per cent contributed by Growing of perennial crops (2.6%), while Water supply sector inched up by 0.2 per cent.

• In terms of PPI Local Production by stage of processing, the index of Crude materials for further processing index increased by 0.3 per cent (October 2023: 5.3%), with the Foodstuffs & feedstuffs index posting an increase of 1.9 per cent. The Finished goods index remained positive to post 1.7 per cent (October 2023: 2.2%), contributed by the increase in Capital equipment (2.9%). By contrast, the Intermediate materials, supplies & components index decreased by negative 3.4 per cent (October 2023: -3.0%) due to Processed fuel & lubricants (-14.7%) and Materials & components for manufacturing (-2.6%) indices.

• On a monthly basis, Finished goods increased by 0.2 per cent in this month. Meanwhile, Crude materials for further processing and Intermediate materials, supplies & components indices declined by negative 2.4 per cent and negative 0.5 per cent, respectively.

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