KUALA LUMPUR: Malaysia's inflation increased 1.9% in October 2024, slightly above market projections that the increase in the cost of goods remained status quo from the previous month.
In a statement, the National Statistics Department said the increase in the consumer price index, up from 1.8% in September 2024, was driven by the higher increase food and beverages (2.3%) and personal care, social protection and miscellaneous goods and services (3.4%).
In the food and beverages group, the main subgroup of food at home increased 0.6% from 0.4% in September, mainly owing to an increase in the price of meat.
Groups that recorded slower rates of price increase include restaurant and accommodation services (2.8%), recreation, sport and culture (2.0%), health (1.4%), transport (0.7%) and furnishings, household equipment and routine household maintenance (0.5%).
The information and communication group registered a price contraction of 1.7% in October 2024 due to the decline in inflation in the main subgroup of information and communication services.
Clothing and footwear saw prices decline 0.2%.
Housing, water, electricity, gas and other fuels (3.1%), education (1.5%), alcoholic beverages and tobacco (0.8%) and insurance and financial services (0.5%) maintained the same rate of increase as in the previous month.
