It is the depreciation of the ringgit's value - not the unscrupulous actions of certain traders - that is keeping the prices of goods high despite the recent drop in oil prices said PKR secretary-general Rafizi Ramli today.

Rafizi pointed to the latest Producer Price Index (PPI) which showed that although the overall prices of locally-manufactured goods had dropped by seven percent over the past year, import prices remained the same meaning the combined prices for goods remained at the same levels.