Malaysia’s inflation remains at 1.5% in January

 

The 1.5% inflation rate in Malaysia was higher than Thailand’s (-1.1%) and China’s (-0.8%), says the statistics department. (Pexels pic)

PETALING JAYA: Malaysia’s headline inflation remained at 1.5% in January with the Consumer Price Index (CPI) at 131.4 points against 129.5 a year earlier, said the statistics department.

Chief statistician Uzir Mahidin said the rise in inflation was driven by the lower increases in restaurant and accommodation services (3.2%), personal care, social protection and miscellaneous goods and services (2.5%), health (2.4%), food and beverages (2%) and housing, water, electricity, gas and other fuels (2%).

“Nevertheless, the transport group increased slower (0.7%) compared to December 2023 (0.3%),” he said in a statement.

The department said monthly inflation continued to show an increase of 0.2% with housing, water, electricity, gas, and other fuels; food and beverages; and health posting monthly increases of 0.4%, 0.3% and 0.2%, respectively.

Meanwhile, core inflation rose slower at 1.8% versus December’s 1.9%.

It still surpassed the overall national inflation rate of 1.5% due to restaurant and accommodation services and the food and beverages sector, which recorded moderate rises of 3.2% and 2.9%, respectively, in January.

Malaysia’s 1.5% inflation rate was lower than the US (3.1%), the Philippines (2.8%), South Korea (2.8%), the eurozone (2.8%) and Indonesia (2.6%).

It was nevertheless higher than Thailand (-1.1%) and China (-0.8%). - FMT