Kuala Lumpur, Malaysia – Malaysia’s consumer-price growth experienced a slowdown in June, primarily driven by lower food prices. According to the country’s Department of Statistics, the consumer-price index increased by 2.4% compared to the same period last year. This figure is below the 2.8% rise observed in May and is in line with the median forecast of 2.4% as predicted by a survey of five economists conducted by The Wall Street Journal.
Factors Influencing Inflation
The prices of food and nonalcoholic beverages, which account for 29.5% of the consumer-price index, recorded an increase of 4.7% in June. Although this represents a slowdown compared to the 5.9% gain observed in May, it remains a significant contributor to the overall inflation rate.
Core Inflation Remains Stable
Core inflation, which excludes the volatile prices of fresh food as well as government-administered goods, rose by 3.1% in June. This metric provides a more accurate representation of underlying inflation trends.
On a monthly basis, consumer prices for June increased by 0.2%, mirroring the growth observed in May.
Inflation Figures by Sector – June
Below are the inflation figures for different sectors in Malaysia during June:
- Food & Non-Alcoholic Drinks: +4.7%
- Housing, Utilities & Fuels: +1.8%
- Transport: +0%
- Miscellaneous Goods & Services: +2.6%
- Recreation Services & Culture: +1.6%
- Communication: -3.6%
Write to Ying Xian Wong