Malaysia Inflation Rate Edges Up to 2% in July

In July of 2013, Malaysian annual inflation rate slightly increased to 2 percent, from 1.8 percent in the previous month, due to higher food prices. From June to July, inflation rate went up by 0.2 percent.

In July of 2013, prices of food and non-alcoholic beverages were the main contributors to the overall growth, and rose 3.9 percent yoy, up from 3.2 percent in June. Prices of meat recorded the highest increase (+8.3 percent), followed by cost of vegetables (+5.6 percent) and fish and seafood (+5.4 percent). In contrast, cost of oils and fat declined 0.5 percent yoy.

In the same period, prices for housing, water, electricity, gas and other fuels increased to an annual rate of 2.2 percent, up from 2 percent recorded in June. Although accounting for less than 5 percent of the overall CPI, prices of alcoholic beverages and tobacco recorded the highest annual increase in July (+ 4.2 percent). 

Year-on-year, cost of clothing and footwear, communication and recreation and culture decreased in July. 

On a monthly basis, the inflation rate increased 0.2 percent in July, from 0.1 percent in June. Increases were for main groups food and non-alcoholic beverages (+ 0.7 percent); health; transport; education and restaurants and hotels by 0.1 percent respectively. On the other hand, decreases were for clothing and footwear (- 0.3 per cent) and miscellaneous goods and services (- 0.2 percent). The indices for alcoholic beverages and tobacco; housing, water, electricity, gas and other fuels; furnishings, household equipment and routine household maintenance; communication and recreation services and culture remained unchanged.

Malaysia Inflation Rate Edges Up to 2% in July

Joana Taborda |
8/21/2013 10:34:22 AM