Malaysia’s inflation rate up 3% in November, above forecast

  • Business
  • Wednesday, 17 Dec 2014

KUALA LUMPUR: Malaysia’s inflation rate, which is measured by the consumer price index (CPI), increased by 3% in November, exceeding economists’ forecast of a 2.7% increase.

The Statistics Department said on Wednesday the CPI rose 0.5% from October. For the January-November period, the inflation rate 3.2% from the previous corresponding period.

It said the November CPI rose 3% to 111.9 from 108.6 a year ago due to increases in the index for alcoholic beverages & tobacco (+10.5%); transport (+5%) and restaurants and hotels (+4.3%).

Housing, water, electricity, gas & other fuels (+3.5%); health (+3.4%) and food & non-alcoholic beverages +2.9%). 

“These six groups of goods and services contributed 96.6% to the increase in the CPI for the month of November this year,” it said.

The Statistics Department said the CPI for November rose 0.5% due to increases in the alcoholic beverages & tobacco (+10.3%); housing, water, electricity, gas & other fuels (+0.7%); health (+0.4%); food & non-alcoholic beverages and restaurants & hotels by 0.3 per cent respectively.

As for the period from January to November, the increase in the CPI by 3.2% to 110.4 was due to an 11.8% increase in alcoholic beverages & tobacco (+11.8%); transport (+5.0%); restaurants and hotels (+4.7%); food & non-alcoholic beverages and housing, water, electricity, gas & other fuels (+3.4%).

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