In April 2022, the Consumer Price Index (CPI) decreased by 0.3 per cent month-on-month compared to March 2022. This was driven by the decrease in non-food index by 0.5 per cent. However, the decline in the index was offset by an increase in the food and non-alcoholic beverages index by 0.4 per cent.
For year-on-year changes, the CPI increased by 3.9 per cent compared to April 2021. The rise in the CPI was in line with the increase in food and non-alcoholic beverages and non food prices by 4.7 per cent and 3.8 per cent, respectively.
The increase in food and non-alcoholic beverages was due to the rise in prices of oil and fats by 21 per cent; meat (9.2 per cent); and fish and seafood (5.4 per cent). The increase in cooking oil is due to the rise in input prices of vegetable and palm oil. Meanwhile, the increase in prices of chicken meat was due to, among others, rising cost of chicken feed.
The increase in the non-food component was driven by miscellaneous goods and services by 16.1 per cent, transport (five per cent), and housing, water, electricity, gas and other fuels (2.2 per cent).
Miscellaneous goods and services prices rose mainly due to the increase in the price of vehicle insurance. Meanwhile, the increase in transport was mainly due to the increase in motor cars and air fares.
Rising prices of rental for housing as well as maintenance and repair of the dwelling drove up housing, water, electricity, gas and other fuels prices.
The CPI is a measure of price changes of goods and services paid by the consumer in a specified period and compiled on a monthly basis. The list of goods and services in the CPI is based on the average expenditure per household from the household expenditure survey (HES).