October’s consumer price index up 2.9%
KUALA LUMPUR: Malaysia saw its Consumer Price Index (CPI) jump to 2.9% year-on-year to 123.7 in October 2021 from 120.2 in the same month a year earlier.
Malaysia’s Department of Statistics (DoSM) attributed the higher CPI, a measure of inflation, to rising fuel prices and ending electricity discounts in September 2021.
Chief statistician Datuk Seri, Dr Mohd Uzir Mahidin (pictured), said the growth was mainly driven by an 11.3% increase in the transport group.
“Along with the rise in world oil prices, the average price of RON 97 has also increased to reach RM 2.84 from RM 1.97 in October 2020,” he said in a statement today.
Mohd Uzir simultaneously said that the index of housing, water, electricity, gas and other fuels rose 3.2%, with the biggest increase recorded by the subgroup of l electricity, gas and other fuels (27.6%).
In addition, he said, furnishings, household equipment, and routine household maintenance (2.1%), as well as food and non-alcoholic beverage indices (1.9%) were also contributed to the increase in headline inflation.
He said other groups, namely restaurants and hotels, alcoholic beverages and tobacco, leisure services and culture, as well as health, registered marginal increases of between 0.2% and 0. , 6%.
“Communication remained unchanged, while clothing and footwear as well as miscellaneous goods and services fell 0.4% and 0.2% respectively.
“Education also showed a marginal decline of 0.1% from a year ago,” he added.
Mohd Uzir noted that all states recorded an increase in the CPI for October 2021, with nine states exceeding the national CPI rate by 2.9%, namely Terengganu (3.9%), Pahang (3, 7%), Kelantan (3.6%), Perak (3.4%), Negeri Sembilan (3.2%), Kedah and Perlis (3.2% each) as well as Selangor, Putrajaya, Johor and Melaka who have increased by 3.1% respectively.
On a monthly basis, Mohd Uzir said that the October 2021 CPI edged up 0.7% from 0.2% in September 2021 due to the end of the three-month monthly reduction on the electricity bill as part of the well-being of the people and economic recovery. Package (Pemulih), which ended on September 30, 2021.
He said the monthly rise in the CPI was also attributable to increases in housing, water, electricity, gas and other fuels (2.5%) as well as furniture. , household equipment and routine household maintenance (0.4%).
Miscellaneous goods and services as well as restaurants and hotels registered a marginal increase of 0.3% respectively, he added.
For the first 10 months of 2021, he said the CPI rose 2.3% year-on-year, while the core index also rose 0.7% in October 2021 compared to the same month of the previous year.
Going forward, the chief statistician expects inflation for the coming months to be influenced by external factors such as rising world prices for crude oil and food.
In addition, he said the opening of interstate travel is expected to affect the prices of some tourism-related groups.