MALAYSIA’S CPI RISES 3.2 PCT Y-O-Y IN JULY 2017

KUALA LUMPUR, Malaysia � Malaysia’s consumer price index (CPI), which measures headline inflation, rose 3.2 per cent on a year-on-year (y-o-y) basis in July 2017, and 0.4 of a point lower compared to 3.6 per cent in June 2017.

The Statistics Department in a statement here today said, core inflation increased 2.6 per cent in July 2017 compared with the same month last year.

Among the major groups which recorded increases were the indices for transport ( 7.7 per cent), food and non-alcoholic beverages ( 4.2 per cent), health ( 2.9 per cent), recreational services and culture ( 2.6 per cent), restaurants and hotels ( 2.6 per cent) and furnishings, household equipment and routine household maintenance ( 2.6 per cent).

The department said the transport group index showed a significant increase of 7.7 per cent on a y-o-y basis in July 2017, after rising 10.5 per cent in June 2017.

The average price of a litre of RON95 petrol was RM1.96 in July 2017 compared to RM1.75 in July 2016 while for RON97, the average price increased to RM2.21 in July 2017 compared to RM2.10 previously.

Fuels and lubricants for personal transport equipment accounted for 7.8 per cent of the CPI weights.

During the month under review, it said the food and non-alcoholic beverages index which accounted for 30.2 per cent in the CPI weights, increased 4.2 per cent in July 2017, driven by food sub-group such as oils and fats ( 39.5 per cent), fish and seafood ( 6.7 per cent), fruits ( 3.6 per cent) and vegetables ( 3.3 per cent).

As for the food away from home index, it continued to rise in July 2017, showing an increase of 4.9 per cent.

The department said the increase in the index for food & non-alcoholic beverages was reflected in most states in Malaysia, especially those in highly urbanised states such as the Federal Territory of Kuala Lumpur, Selangor and Federal Territory of Putrajaya, Penang, Johor and Melaka.

From January to July 2017, the CPI increased 4.0 per cent compared with the same period last year, mainly due to an increase in the food and non-alcoholic beverages index, which rose 4.2 per cent.

Source: NAM NEWS NETWORK