Consumer Price Index rises 2%, food inflation up 4% in March

 

The meat subgroup continued to be the main contributor to food inflation, rising by 7.6% in March. Chicken, the biggest component, expanded 10.5%, while beef rose by 4.3%.

KUALA LUMPUR: Malaysia’s Consumer Price Index (CPI) in March rose by 2.2 % to 125.6 against 122.9 in March 2021, surpassing the average inflation for the January 2011-March 2022 period which stood at 1.9%.

Chief statistician Uzir Mahidin said the rise in headline inflation was mainly driven by the 4.0% year-on-year (y-o-y) increase in food and non-alcoholic beverages.

“Food inflation remained as a major contributor to inflation,” he said in a statement today.

“The 4.0% growth in the food and non-alcoholic beverages group was largely due to an increase in the food-at-home component which rose by 4.3% compared to 4.1% recorded in February.”

Uzir said the meat subgroup continued to be the main contributor to food inflation, rising by 7.6% in March.

“Chicken, the biggest component in the meat subgroup, expanded 10.5%, while beef rose by 4.3%,” he said.

Meanwhile, the rise in furnishings, household equipment and routine household maintenance (3.0%), restaurants and hotels (2.9%) and transport (2.6%) had also contributed to the overall CPI.

Miscellaneous goods and services also grew by 1.9%, while recreational services and cultural events expanded by 1.1%.

Both housing, water, electricity, gas and other fuels index, as well as education, registered an increase of 0.9% respectively.

The alcoholic beverages and tobacco index, as well as health, increased marginally by 0.5% and 0.2% respectively.

On a monthly basis, the March CPI increased 0.3% compared to February, attributed to the growth in transport (1.1%) and miscellaneous goods and services (0.6%).

Uzir said all states recorded increases in inflation, with Selangor and Putrajaya rising above the 2.2% national inflation level at 2.9%.

Core inflation registered an increase of 2.0% y-o-y in March, with the transport group recording the highest increase at 3.9%.

Other groups which recorded an increase were the food and non-alcoholic beverages group (3.5%), furnishings, household equipment and routine household maintenance (3.0%); restaurants and hotels (2.9%), miscellaneous goods and services (1.9%) and recreational services and cultural events (1.1%). - FMT