Malaysia’s Inflation in June Up 3.4% Driven By Rising Food Prices

Malaysia’s consumer price index (CPI) increased by 3.4% year-on-year (y-o-y) to 127.4 in June from 123.2 in June last year, surpassing the average inflation in Malaysia for the January 2011-June 2022 period by 1.9%, Department of Statistics Malaysia (DOSM).

It said that Food index increased 6.1 percent and remained the main contributor to the rise in the inflation during the month of June 2022.

Meanwhile, other groups except for Communications also recorded increases and led to headline inflation to 3.4 per cent. Transport increased 5.4 per cent followed by Restaurants & Hotels (5.0%); Furnishings, Household Equipment & Routine Household Maintenance (3.4%); Miscellaneous Goods & Services (2.2%) and Recreation Services & Culture (2.2%)

DOSM said that the inflation for the second quarter of 2022 inclined 2.8 per cent to 126.6 as compared to 123.1 in the same quarter of the preceding year.

On a quarterly basis, the inflation inclined 1.1 per cent as compared to the first quarter of 2022 (0.9%).

Meanwhile, the inflation for the period of January to June 2022 increased 2.5 per cent as compared to the same period of the previous year. On a monthly basis, the inflation increased 0.6 per cent as compared to May 2022.

On core inflation, DOSM said that core inflation registered an increase of 3.0 per cent in June 2022 as compared to the same month of the previous year. The highest increase was recorded by Food & Non-Alcoholic Beverages group with 5.6 per cent

In addition, DOSM said that the Transport group also recorded an increase of 5.2 per cent, followed by Restaurants & Hotels (5.0%); Furnishings, Household Equipment & Routine Household Maintenance (3.4%); Miscellaneous Goods & Services (2.2%) and Recreation, Services & Culture (2.2%)

On inflation by state, all states registered increases in inflation while two states showed increases above the national inflation level of 3.4 per cent. The highest increase was recorded by Wilayah Persekutuan Putrajaya (8.1%). Meanwhile, Wilayah Persekutuan Labuan and Melaka were the two states with the lowest increase by 2.5 per cent respectively.

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