Tuesday , August 16 2022

Malaysia's inflation rises 0.6 per cent year-on-year in October – Xinhua


KUALA LUMPUR, Nov. 23 (Xinhua) – Malaysia's consumer price index (CPI) rose 0.6 percent year-on-year in October, due to higher prices for items including housing, water, electricity, gas and other fuels, according to latest data released Friday.

Malaysian Statistics Department said in a statement that the increase in the overall index was due to higher prices of housing, water, electricity, gas and other fuels, which increased by 2.1 percent, food and non-alcoholic beverages that expanded 1.2 percent.

Restaurants and hotel prices rose 1.2 percent, while education and transport accelerated 1.1 percent and 0.8 percent, respectively.

On a monthly basis, CPI increased 0.2 percent compared to September.

CPI for the period from January to October recorded an increase of 1.1 percent compared to the same period last year.

Meanwhile, core index increased 0.4 percent in October compared to the same month of the previous year.

Amid higher base effects, MIDF Research estimates headline inflation rate to average at 1.3 percent this year compared to 3.8 percent last year, due to lower inflation rates for the first 10 months.

"Vi regner med at inflationspresset hovedsakelig kommer fra brændstofrelaterede varer til ro, i takt med en gradvis stigning i verdensomspændende råvarepriser på toppen af ​​pass-through-effekten fra en styrkelse ringgit og subsidie ​​eller indenlandsk brændstofpris," siger forskningscentret.

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