Malaysia's producer price index (PPI) fell 0.1% year on year in October, easing from a 0.8% decline in the previous month, the Department of Statistics Malaysia said Thursday.

The PPI measures the average change in prices charged by domestic producers for their goods and services.

The decline was led by the manufacturing sector, which fell 0.6% annually, mainly due to lower prices in coke and refined petroleum products and computer, electronic and optical products. The mining sector also contracted 1%, dragged by a 2.2% decline in crude petroleum extraction.

In contrast, the agriculture, forestry and fishing sector rose 2.7%, supported by higher prices for perennial crops and animal production, while the utilities segment posted gains, with electricity and gas supply up 4.3% and water supply up 10.8%.

Monthly, the PPI was unchanged, the department said.