Malaysia's September inflation eases to 1.8 pct - DOSM
Bernama
24/10/2024
Chicken, the largest component (32.6 per cent) in the meat expenditure class, recorded a rise of 1.3 per cent (August 2024: -2.2 per cent). - BERNAMA/FilepicKUALA LUMPUR: Malaysia's inflation rate for September 2024 has eased to 1.8 per cent, down from 1.9 per cent in August this year, according to the Department of Statistics Malaysia (DoSM).
Meanwhile, the consumer price index (CPI) for September 2024 rose to 133.2, compared to 130.8 in the same period last year.
DoSM attributed this increase to rises in key categories, including personal care, social protection, and miscellaneous goods and services, which saw a rise of 3.1 per cent.
This was followed by transport at 1.1 per cent, alcoholic beverages and tobacco at 0.8 per cent, furnishings, household equipment, and routine household maintenance at 0.6 per cent, and information and communication at 0.4 per cent.
Conversely, clothing and footwear remained in negative territory at -0.3 per cent.
DoSM reported that the food and beverages group, which contributes 29.8 per cent of the total CPI weight, increased by 1.6 per cent in September 2024, matching the rate from August.
Within this group, the primary subgroup of food at home rose by 0.4 per cent, driven by inflation in meat expenditures, which increased by 0.7 per cent (August 2024: -0.7 per cent).
Chicken, the largest component (32.6 per cent) in the meat expenditure class, recorded a rise of 1.3 per cent (August 2024: -2.2 per cent).
According to DoSM data, the average price of standard chicken in Malaysia for September 2024 was RM10.47 per kilogramme, up from RM10.01 per kilogramme in September 2023 (August 2024: RM10.15).
"Meanwhile, the average price of standard chicken in Peninsular Malaysia for September 2024 was RM9.38 per kilogramme, compared to RM9.28 per kilogramme in September 2023 (August 2024: RM9.27)," the department stated in its CPI report for September 2024.
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin noted that most states recorded inflation rates below the national level of 1.8 per cent, except for Pulau Pinang (3.1 per cent), Pahang (2.7 per cent), Sarawak (2.3 per cent), and Selangor (2.3 per cent).
"All states registered increases in the inflation of food and beverages, with Selangor recording the highest rate at 2.8 per cent, followed by Pahang at 2.2 per cent, Pulau Pinang at 2.0 per cent and Sarawak at 1.6 per cent," he said.
Inflation for the third quarter of 2024 (3Q2024) remained steady at 1.9 per cent, matching the second quarter (2Q2024).
Quarter-on-quarter, Malaysia's inflation increased by 0.4 per cent (2Q 2024: 0.6 per cent).
Meanwhile, core inflation rose at a slower pace of 1.8 per cent in September 2024 (August 2024: 1.9 per cent), driven by increases in restaurant and accommodation services (3.2 per cent), personal care, social protection, and miscellaneous goods and services (3.1 per cent), and food and beverages (2.3 per cent).
DoSM also highlighted that Malaysia's inflation was lower than in Vietnam (2.6 per cent) and the Philippines (1.9 per cent) but higher than in the Republic of Korea (1.6 per cent), Thailand (0.6 per cent), and China (0.4 per cent).
-- BERNAMA
