Malaysia Inflation Rate Rises in December

In December of 2013, Malaysian annual inflation rate accelerated to 3.2 percent, up from 2.9 percent in the previous month, the highest rate since November of 2011. Higher inflation is partly result of subsidy cuts introduced by the Government in 2013, such as a 10 percent rise in petrol prices and a 15 percent hike in power tariffs.

Prices of alcoholic beverages grew the most on the year (14.1 percent), followed transport cost (5 percent, slightly up from 4.9 percent in November) and food prices (4.5 percent from 3.9 percent in November). 

Prices of housing, water, electricity, gas and other fuels slightly increased to 2.4 percent (2.3 percent in November). In contrast, prices of miscellaneous goods and services, communications and clothing and footwear felt 0.6 percent and 0.3 percent.

On a monthly basis, the inflation rate rose 0.3 percent, the same rate recorded in the previous period. Increases were recorded for recreation services and culture (1.3 percent); food and non-alcoholic beverages (0.9 percent); restaurants and hotels (0.3 percent); health (0.2 percent); housing, water, electricity, gas and other fuels and education by 0.1 percent respectively. On the other hand, decreases were for clothing and footwear (-0.4 percent); transport and miscellaneous goods and services by 0.3 percent respectively.

Malaysia Inflation Rate Rises in December

Joana Taborda |
1/22/2014 11:01:07 AM