economy

Inflation in Malaysia eases to 1.8pct in September

KUALA LUMPUR: Malaysia's inflation eased to 1.8 per cent in September with the Consumer Price Index (CPI) stood at 133.2 compared to 130.8 in the same month last year, according to the Department of Statistics Malaysia (DOSM).

In its monthly CPI report, DOSM attributed this to a slower increase of 3.1 per cent in the main groups of personal care, social protection as well as miscellaneous goods and services.

This was followed by transport (1.1 per cent); alcoholic beverages and tobacco (0.8 per cent); furnishings, household equipment and routine household maintenance (0.6 per cent) and information and communication (0.4 per cent).

Meanwhile, clothing and footwear remained at negative territory at negative 0.3 per cent.

Chief statistician Datuk Seri Dr. Mohd Uzir Mahidin said the inflation for recreation, sport and culture increased to 2.1 per cent due to inflation for recreational services at 4.0 per cent from 2.8 per cent previously.

While the food and beverages group increased at the same rate as recorded in August at 1.6 per cent, the data shows that the average price of standard chicken in Malaysia rose to RM10.47 per kilogramme from RM10.15 in August.

Meanwhile, inflation for transport eased to 1.1 per cent from 1.3 per cent as CPI eased to 16.7 per cent compared to 21 per cent.

"In September 2024, the average price for diesel in Peninsular Malaysia was RM3.04 per litre compared to RM2.15 per litre in September 2023 and RM3.27 in August 2024.

"In addition, the average price of unleaded petrol RON97 in September 2024 decreased to RM3.28 per litre as against RM3.40 per litre in September 2023 and RM3.47 in August 2024," Mohd Uzir said.

He added that most of the states recorded increases below the national inflation level of 1.8 per cent, except four states, namely Pulau Pinang (3.1 per cent), Pahang (2.7 per cent), Sarawak (2.3 per cent) and Selangor (2.3 per cent).

According to him, all states registered an increase in the inflation of food and beverages except Labuan which declined 0.1 per cent.

The highest rate was recorded by Selangor at 2.8 per cent, followed by Pahang (2.2 per cent), Pulau Pinang (2.0 per cent) and Sarawak (1.6 per cent), while other states showed an increase below the national inflation of food and beverages of 1.6 per cent in September 2024.

Inflation for the third quarter of 2024 remained at 1.9 per cent while core inflation increased slower at 1.8 per cent in September 2024 due to restaurant and accommodation services (3.2 per cent); personal care, social protection and miscellaneous goods and services (3.1 per cent) as well as food and beverages (2.3 per cent).

In comparison to inflation in other selected countries, inflation in Malaysia (1.8 per cent) was lower than inflation in Vietnam (2.6 per cent) and the Philippines (1.9 per cent).

However, the rate was higher than South Korea (1.6 per cent), Thailand (0.6 per cent) and China (0.4 per cent).

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