PETALING JAYA: Inflation rate, measured by the consumer price index (CPI), rose 3.9% in May 2017 from 4.4% in April 2017, driven by higher fuel prices.
However, the CPI was below economists’ forecast of a 4.1% increase.
According to the Statistics Department, among the major groups which recorded increases were the indices for transport (13.1%), food and non-alcoholic beverages (4.4%), recreation services and culture (2.9%), health (2.9%), restaurants and hotels (2.3%) and housing, water, electricity, gas and other fuels (2.2%).
“The average price of one litre of RON95 petrol was RM2.09 in May 2017 compared to RM1.70 in May 2016. As for RON97, the average price increased to RM2.37 in May 2017 compared to RM2.05 in May 2016. Fuels and lubricants for personal transport equipment accounted for 7.8% of the CPI weights,” the Statistics Department said in a statement Wednesday.
In the breakdown of inflation, the department said the index for food and non-alcoholic beverages which accounted 30.2% in the CPI weights, increased 4.4% in May 2017.
It said the increase was led by oils and fats with a rise of 38.9%. The price of cooking oil was 48.9% higher in May.
Core inflation rose 2.6% in May 2017 compared to the same month of the previous year.
The CPI for the period January to May 2017 registered an increase of 4.3% as compared to the same period last year. The index for food and non-alcoholic beverages were the main contributor to the CPI rise in the period January to May 2017, registered an increase of 4.1%.
Core inflation, which excludes most volatile items of fresh food, as well as administered prices of goods and services recorded changes ranging from 2.3% to 2.6% in the period January to May 2017 compared to the same period of the previous year.
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