Malaysia’s inflation in February 2023 remained at 3.7 per cent as compared to January 2023 with the index recording 129.8 as against 129.5 in the same month of the preceding year.
According to the Department Of Statistics Malaysia (DOSM) in the report titled Consumer Price Index Malaysia February 2023, the increase in Malaysia’s inflation for February 2023 was driven by Restaurants & Hotels (7.4%), Food & Non-Alcoholic Beverages (7.0%) and Transportation (3.7%).
This was followed by Furnishings, Household Equipment & Routine Household Maintenance (3.4%); Miscellaneous Goods & Services (2.5%) and Health (1.8%). Housing, Water, Electricity, Gas & Other Fuels and Recreation Services & Culture inclined 1.7 per cent respectively.
All subgroups in Food & Non-Alcoholic Beverages recorded an increase between 0.6 per cent to 9.0 per cent. The subgroup of Meat recorded an increase at 9.0 per cent. This was followed by Food Products not elsewhere classified (8.8%); Rice, bread & other cereals (6.7%); Milk, cheese & eggs (6.6%) and Vegetables (5.8%). Sugar, jam, honey, chocolate and confectionery and Fish and seafood increased by 3.6 per cent and 3.2 per cent respectively. Meanwhile, the Oils and fats subgroup moderated to 0.6 per cent.
On a monthly basis, inflation in February 2023 increased by 0.2 per cent. Meanwhile, core inflation that measures changes in the prices of all goods and services, excluding volatile prices of items for fresh food as well as administered prices of goods by the government remained at 3.9 per cent.
In February 2023, six states recorded increases above the national inflation level of 3.7 per cent, namely Wilayah Persekutuan Putrajaya (4.7%), Selangor (4.3%), Johor (4.1%), Sarawak (4.0%), Pahang (4.0%) and Perak (3.8%). However, Kedah and Wilayah Persekutuan Labuan recorded the lowest increase of 2.3 per cent.
Malaysia recorded a lower inflation rate than some selected countries, namely the Philippines (8.6%), Eurozone (8.5%), United States of America (6.0%), Indonesia (5.5%), Republic of Korea (4.8%), Vietnam (4.3%) and Thailand (3.8%).
