KUALA LUMPUR: Malaysia's inflation increased by 1.8 per cent in November 2024 compared to the same month last year, with the Consumer Price Index (CPI) standing at 133.3 points, according to the Department of Statistics Malaysia (DOSM).
According to DOSM, the rise was largely attributed to higher costs in food and beverages standing at 2.6 per cent and housing, water, electricity, gas and other fuels at 3.2 per cent.
Meanwhile, food inflation was particularly pronounced, driven by a 4.8 per cent rise in chicken prices, with the average price of standard chicken reaching RM10.41 per kilogram, up from RM9.96 in November 2023.
However, inflation in transport slowed to 0.4 per cent, while information and communication recorded a notable decline of -3.9 per cent, reflecting lower prices for services in this category.
Chief Statistician of Malaysia, Datuk Sri Dr. Mohd Uzir Mahidin, highlighted regional variations, with Pulau Pinang at 2.9 per cent, Pahang with 2.4 per cent, and Selangor at 2.1 per cent experiencing inflation above the national average.
Meanwhile, Selangor recorded the highest food inflation at 4.0 per cent.
On a monthly basis, inflation decreased by 0.1 per cent, marking the first decline since August 2021, driven by reduced costs in transport and communication.
However, compared to regional peers, Malaysia's inflation rate remains moderate, lower than Vietnam at 2.8 per cent and the Philippines at 2.5 per cent but still higher than Indonesia with 1.6 per cent and Thailand at 1.0 per cent.