Statistics Department: Country’s inflation rate up to 3.3% last year

Mohd Uzir Mahidin said the increment was driven mainly by food and beverage, restaurants and hotels, transport and furnishings, household equipment and routine household maintenance. — Bloomberg

KUALA LUMPUR: Malaysia’s inflation in 2022 rose to 3.3% versus 2.5% in 2021, with the index points standing at 127.2 last year versus 123.1 in 2021, according to the Statistics Department.

Chief statistician Datuk Seri Mohd Uzir Mahidin said the increment was driven mainly by food and beverage, restaurants and hotels, transport and furnishings, household equipment and routine household maintenance.

“The increase in inflation in 2022 was in tandem with the rise in majority commodities prices, the strengthening of the US dollar against major currencies, and geopolitical tensions between Russia and Ukraine. A significant increase was recorded by all the subgroups in food and beverages which registered an incline between 2.9% and 8.6%.

“Moreover, events such as floods and landslides had also caused disruptions in the supply of agricultural products, leading to shortages of food supplies and increased prices,” he said in a statement in conjunction with the release of Analysis of Annual Consumer Price Index 2022 report, yesterday. — Bernama