Malaysia's inflation up 4.5% in September

KUALA LUMPUR: Malaysia's inflation rose 4.5% in September, lower than 4.7% in the preceding month, according to the Statistics Department (DOSM).

The increase in the consumer price index (CPI) was less than the 4.6% growth forecast by 16 economists in a Reuters poll.

In a statement, DOSM said food inflation increased at a slower rate of 6.8% as compared to August 2022 (7.2%).

Apart from the food group, among groups that recorded a high increase were restaurants & hotels increased 6.9% followed by transport (5.3%); furnishings, household equipment & routine household maintenance (4.4%) and housing, water, electricity, gas & other fuels (4.0%).

DOSM said the slow increase in the food group in September 2022 was driven by a moderate increase in the component of food at home which was 5.7% as compared to 6.4% in August 2022.

This increase was driven by the increase in all subgroups of food which recorded an increase between 3.3% and 8.8%.

On a monthly basis, the inflation in September 2022 moderated to 0.1% as compared to 0.2% in August 2022.

“The inflation for the period of January to September 2022 was 3.3% as compared to the same period of the previous year,” DOSM said.

Inflation for the third quarter of 2022 increased by 4.5% as compared to the same quarter of the previous year.

“Core inflation registered an increase of 4.0% in September 2022 as compared to August 2022 (3.8%),” the department said.

Core inflation measures changes in the prices of all goods and services, excluding volatile items of fresh food as well as administered prices of goods by the government.