Malaysia's Inflation Remains At 2.0 Pct In July -- DoSM

KUALA LUMPUR, Aug 22 (Bernama) -- Malaysia’s July 2024 inflation has remained at 2.0 per cent since May 2024, according to Statistics Department Malaysia (DoSM) in its Consumer Price Index (CPI) July 2024 report.

July’s CPI increased to 133.1 against 130.5 the same month a year ago. 

In a statement today, DoSM said the inflation was driven by increases in the main groups, which include restaurant and accommodation services (3.4 per cent); personal care, social protection and miscellaneous goods and services (3.2 per cent); recreation, sports and culture (2.2 per cent) and health (1.9 per cent).

Food and beverages recorded a slower 1.6 per cent increase against a 2 per cent rise in June 2024.

"Housing, water, electricity, gas and other fuels recorded a 3.2 per cent increase; education (1.7 per cent), transport (1.2 per cent) and furnishings, household equipment and routine household maintenance (0.9 per cent) rose at the same rate as the previous month," the report said.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the rise in the restaurant and accommodation services was due to an increase in its main subgroup, beverage preparation services, to 4.3 per cent in July versus June 2024’s 4.2 per cent.

As for the rise in personal care inflation, social protection and miscellaneous goods and services, which rose 3.2 per cent in July 2024 versus 2.8 per cent in June 2024, this was due to an 18 per cent rise in jewellery and watches (June 2024: 15.3 per cent).

Furthermore, July inflation for the transport sector remained at 1.2 per cent as per June 2024.

As for state-level inflation, Mohd Uzir said most of the states recorded increases below the 2.0 per cent national inflation except four states, Penang (3.4 per cent), Sarawak (2.7 per cent), Pahang (2.6 per cent) and Selangor (2.4 per cent).

"All the states registered a slower rise in food and beverage inflation with the highest rate recorded by Selangor at 3.0 per cent, followed by Penang (2.8 per cent), Sarawak (1.9 per cent), Sabah (1.7 per cent), Pahang (1.6 per cent) and Terengganu (1.6 per cent).

-- BERNAMA