Inflation eases to 3.8%
The Department of Statistics Malaysia says global food prices are still responsible for driving up inflation in 2022, despite easing over the past few months. – The Malaysian Insight file pic, January 20, 2023.
During the last month of 2022, the consumer price index stood at 129.2 against 124.5 in the same month of the preceding year. There were also increases in recreation services and culture ; miscellaneous goods and services ; and housing, water, electricity, gas and other fuels .Alcoholic beverages and tobacco, and clothing and footwear posted marginal increases of 0.7% and 0.4% respectively.
“Meanwhile, inflation for the fourth quarter of 2022 inclined 3.9% to 128.9 against 124.1 in the same quarter of the preceding year,” he said in a statement.Monthly headline inflation in December 2022 increased moderately to 0.2% compared to 0.3% in November 2022, mainly driven by the restaurants and hotels , and food and non-alcoholic beverages sectors.
Uzir highlighted that the implementation of the festive season maximum price scheme from December 23-27, 2022, and the setting of the ceiling price for cooking oil in bottles helped ease inflationary pressure from this sector. Four states recorded increases above the national inflation level of 3.8%: Putrajaya , Selangor , Sarawak , and Johor .Meanwhile, inflation for the income group below RM3,000 increased 3.6% from 125.3 in December 2021 to 129.8 in December 2022, due to the increase in food and non-alcoholic beverages group at 6.1%.
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