DOSM: Malaysia's July inflation up 4.4 pct

 

Malaysia’s Consumer Price Index (CPI) increased by 4.4 percent year-on-year (y-o-y) to 127.9 in July 2022 compared to 122.5 in the same month of the preceding year.

Department of Statistics Malaysia (DOSM) chief statistician Mohd Uzir Mahidin said the food index increased 6.9 percent and remained as the main contributor to the rise in inflation during the month.

“The increase in Malaysia’s inflation this month was also due to the lower base effect last year as a result of the electricity bill discount from five to 40 percent according to total usage given to domestic consumers under the National People's Well-Being and Economic Recovery Package from July to September 2021,” he said in a statement today.

He said there are food items that showed a slower growth momentum in July 2022 compared to June 2022. Among the subgroups were fish and seafood (4.2 percent) and vegetables (7.1 percent).

Apart from the food group, Mohd Uzir said all other groups also continued to record increases except for communication which remained unchanged compared to the same month of the previous year.

Restaurants and hotels increased 5.8 percent followed by transport (5.6 percent); furnishings, household equipment & routine household maintenance (4.0 percent) and housing, water, electricity, gas & other fuels (3.8 percent).

Meanwhile, recreation services and culture also registered an increase of 2.5 percent, miscellaneous goods and services (2.1 percent), and education (1.2 percent).

The DOSM statement said inflation for January to July 2022 increased 2.8 percent compared to the same period of the previous year.

On a monthly basis, inflation increased 0.4 percent compared to June 2022.

The increase was mainly attributed by restaurants and hotels (0.8 percent), and food and non-alcoholic beverages (0.7 percent). This was followed by furnishings, household equipment and routine household maintenance (0.6 percent) and transport (0.5 percent).

The core inflation and inflation without fuel registered an increase of 3.4 percent and 4.2 percent, respectively, in July compared to the same month of the preceding year.

Inflation for all states rose, with three states showing increases above the national level of 4.4 per cent.

- Bernama