May Consumer Price Index up 2.8pct, food costs significantly more

 

The consumer price index (CPI) rose 2.8 percent in May compared to the same period last year, said the Department of Statistics (DOSM).

The rising cost of food was a key factor. The DOSM said food now costs 5.2 percent more and this was the highest increase since Nov 2011.

“The subgroup of meat showed the highest increase of 9.5 percent in May 2022 (April 2022: 6.2 percent) due to the increase in demand during the festive season.

“This was followed by vegetables (8.1 percent); milk, cheese and eggs (8 percent); fish and seafood (4.3 percent) and oils and fats (3.7 percent).

“Meanwhile, a significant increase for food away from home can be seen for rice with side dishes (8.3 percent), roti canai (7.8 percent), food made from noodles (5.7 percent) and cooked chicken (5.1 percent),” said the DOSM.

The DOSM said chicken constituted 46.1 percent of meat consumed in the country and the price of this product had increased to RM9.70 per kilogramme (RM8.44 in May 2021) due to the rising cost of chicken feed and increased demand.

As for the rising cost of vegatables, the DOSM said it was due to rising fertiliser prices, logistics costs, labour shortages and weather conditions.

Among others, noted that there a year-on-year increase in May 2022 for capsicum (29.5 percent), lady’s finger (22.9 percent), tomatoes (19.6 percent), French beans (19 percent) and spinach (18.5 percent).

Apart from communications, all other categories of goods and services saw an increase in prices as well, leading to higher headline inflation. - Mkini