Thursday , June 8 2023

Malaysia recorded a 0.6 percentage point increase over the same period last year in October – Xinhua


Consumer Price Index (CPI) in Malaysia rose 0.6 percent from the same period last year due to a higher price for items including housing, water, electricity, gas and other fuels, according to latest data released on Friday .

The Malaysian Statistics Department said in a statement that the rise in the general index was driven by rising house prices, water, electricity, gas and other fuels that rose 2.1 percent, food and non-alcoholic beverages rose by 1 ,2%.

Restaurant and hotel prices rose 1.2%, while education and transport increased by 1.1% and 0.8%, respectively.

On a monthly basis, CPI rose 0.2% versus September.

CPI for January to October saw a 1.1% increase over the same period last year.

At the same time, the base index rose by 0.4% in October compared to the same month of the previous year.

Against a background of higher base effects, MIDF Research predicts global inflation rate at 1.3% this year, up from 3.8% last year due to the low inflation rate for the first 10 months.

"We expect inflationary pressures to moderate mainly from fuel-related products, in line with the gradual rise in world commodity prices, despite the effect of labor migration and domestic fuel price subsidies," he said. said in a note on Friday.

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