December inflation fell 1.4% on-year, up 0.5% on-month


The decline in fuel prices was a major factor which saw December CPI fall by 1.4% on-year.

KUALA LUMPUR: The inflation rate or Consumer Price Index (CPI) for December last year fell by 1.4% due mainly to a decline in transport and housing, water, electricity, gas and other fuels, according to the Statistics Department.

Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said on Friday the December CPI was at 120.6 compared with 122.3 in December 2019.

“The decrease in the overall index was attributed by the decline in transport (-8.4%); housing, water, electricity, gas & other fuels (-3.3%); clothing & footwear (-0.4%). Restaurants & hotels (- 0.2%) and furnishings, household equipment & routine household maintenance (- 0.1%) which contributed 48.6% to overall weight, ” he said.

He said food & non-alcoholic beverages increased by 1.4% to 135.8 from 133.9 a year ago. This group contributes 29.5% of CPI weight.

However, the CPI without fuel fell 0.1% in December last year to 112.8 as compared to 112.9 in December 2019.

CPI without fuel covers all goods and services except unleaded petrol RON95, unleaded petrol RON97 and diesel.

The average price of unleaded petrol RON 95 in December 2020 decreased to RM1.74 per litre as compared to RM2.08 in December 2019 while for unleaded petrol RON 97, it fell to RM2.04 per litre from RM2.63. The average price of diesel fell to RM1.93 per litre from RM2.18.

Mohd Uzir said core index rose 0.7% in December last year from a year ago due to higher prices for miscellaneous goods & services (2.2%); food & non-alcoholic beverages (1.2%); health (1.0%).

The core index excludes most volatile items of fresh food as well as administered prices of goods and services.

“Although year-on-year CPI decreased, CPI on a monthly basis increased by 0.5% from November 2020 due to transport (3.0%) and alcoholic beverages & tobacco (0.5%), ” he said.

As for CPI for 4Q of 2020, it decreased by 1.5% to 120.3 as compared to 122.1. On a quarterly basis, the CPI increased by 0.2% from 3Q.

The CPI for 2020 declined by 1.2% from 2019.

For all states, the CPI recorded a decline of between -0.9% and -2.2% in December last year from a year ago.

Kedah & Perlis recorded a -2.2% decline, Sabah and Labuan (-2%), Johor (-2%), Melaka (-2%), Sarawak (-1.9%) and Negeri Sembilan (-1.9%).

However, all states recorded higher prices of food & non-alcoholic beverages. The highest increase was recorded by Pahang at 2.3%. This was followed by Selangor & Putrajaya (2.2%), Perak (2%), Terengganu (2.0%) and Negeri Sembilan (1.7%).

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

   

Did you find this article insightful?

Yes
No

100% readers found this article insightful

Next In Business News

Geely Auto and Volvo Cars to launch powertrain venture after merger scrapped
Malaysia Airlines to introduce digital travel health pass
Rising aluminium prices lift Press Metal profits�
AEON Malaysia registers RM41.4mil net profit in FY20
AirAsia takes RM320mil hit due to Japan unit bankruptcy
Destini, KTMB in joint venture targeting rail MRO services
DRB-Hicom makes a net profit of RM554mil in FY20
Sunway joins global push for climate-related financial disclosures
Vitrox to expand capacity as Q4 revenue surges to new high�
Strong demand for steel products powers Prestar’s earnings

Stories You'll Enjoy


Vouchers