Malaysia’s inflation in July 2022 up by 4.4%: Stats Dept

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

Statistics Department (DoSM) chief statistician Datuk Sri Mohd Uzir Mahidin said the food index increased 6.9% and remained as the main contributor to the rise in inflation in July.

“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 5% to 40%, 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 were food items that showed slower growth momentum in July 2022 compared to June 2022. Among the subgroups were fish and seafood (4.2%) and vegetables (7.1%).

Apart from the food group, 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% followed by transport (5.6%); furnishings, household equipment and routine household maintenance (4.0%); and housing, water, electricity, gas and other fuels (3.8%). 

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

The department’s statement said inflation from January to July 2022 increased 2.8% compared to the same period of the previous year. 

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

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

The core inflation and inflation without fuel registered an increase of 3.4% and 4.2% 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%. – Bernama, August 29, 2022