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In November 2023, Malaysia experienced a 1.5% decrease in producer prices, following a slight dip in October. This decline persisted for two consecutive months, primarily driven by reduced manufacturing costs.
The cost of producing goods dropped by 1.4% compared to the previous year, marking a seven-month trend of declining prices. Additionally, the costs of materials used in production showed slower growth.
Looking forward, it appears that prices may continue to stay low until mid-2024, attributed to stable conditions in the country, consistent interest rates, and a return to normal global prices.
However, there are potential risks such as a weakening national currency and rising fuel prices due to changes in subsidies. Moreover, challenges in crucial waterways could exert additional pressure on the global supply chain.
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