Malaysia's Feb inflation comes in at 1.8%

KUALA LUMPUR: Malaysia's inflation rose 1.8% to 132.1 in February 2024, defying expectations the consumer price index (CPI) would trend lower.

The increase in the CPI was above the 1.5% recorded in January and higher than the 1.4% median estimate of economists polled by Reuters.

The National Statistics Department said the increase in inflation was driven by housing, water, electricity gas and other fuels, which rose 2.7%.

The other leading inflation groups were recreation, sport and culture, up 1.6% and transport, climbing 1.2%.

"However, the other main groups recorded a slower increase were restaurant and accommodation services (2.9%), health (2.2%), food and beverages (1.9%) and education (1.5%)," it said in a statement.

According to chief statistician Datuk Seri Mohd Uzir Mahidin, the hike in water prices was owing to the adjustment in water tariffs for domestic users in Peninsular Malaysia and Labuan.

"Meanwhile, the increase of inflation for transport was driven by the main subgroups of operation of personal transport equipment which increased by 1.3% (January 2024: 1.2%) and Passenger transport services 1.7% (January 2024: -4.5%)," he said.

Overall, monthly inflation in February 2024 showed an increase of 0.5% as compared to 0.2% in January.

Core inflation in February remained the same as in January at 1.8%, due to the food and beverages and restaurant and accommodation services, which recorded increases of 3.1% and 2.9% respectively during the month.

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CPI , inflation , consumer , food , transport , energy , utility


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