The Department Of Statistics Malaysia (DOSM) cited today the nation encountered a moderate increase in the inflation rate for October driven by the slower increase for Housing, Water, Electricity, Gas and Other Fuels group to 1.5 per cent as compared to 4.0 per cent in September 2022.
This slower increase was due to the absence of base effects attributed by the discontinuation of electricity discounts under the National People’s Well-Being and Economic Recovery Package (PEMULIH) from July to September 2021,
In DOSM’s Consumer Price Index Malaysia October 2022 report released today (Nov 25), it cited the inflation for Food & Non-Alcoholic Beverages group recorded an increased 7.1 per cent as against 6.8 per cent that has been recorded in September 2022.
There are food items that showed a slower growth momentum as compared to September 2022. Among the subgroups were Vegetables which increased 4.8 per cent as compared to 6.3 per cent and Oils & fats increased 2.6 per cent as compared to 3.8 per cent in September 2022.
Apart from the Food group, all other groups also continued to record increases except for Communication which remained unchanged as compared to the same month of the previous year. Restaurants & Hotels increased 6.8 per cent followed by Transport (5.2%); Furnishings, Household Equipment & Routine Household Maintenance (4.1%) and Recreation Services & Culture (3.4%).
All subgroups in Food & Non-Alcoholic Beverages recorded increases between 2.6 per cent to 8.8 per cent.
The subgroup of Milk, cheese & eggs showed the highest increase among all subgroups of Food & Non-Alcoholic Beverages at 8.8 per cent in October 2022. This was followed by Rice, bread & other cereals and Meat at 7.3 per cent respectively. Meanwhile, Fruits and Vegetables increased by 5.5 per cent and 4.8 per cent respectively.
The inflation for the period of January to October 2022 increased 3.3 per cent as compared to the same period of the previous year. On a monthly basis, the inflation in October 2022 recorded 0.2 per cent as compared to 0.1 per cent in September 2022.
Core inflation measures changes in the prices of all goods and services, excluding volatile items of fresh food as well as administered prices of goods by the government. Core inflation registered an increase of 4.1 per cent in October 2022 as compared to the same month of the previous year.
