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Brunei
Sunday, January 29, 2023
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Sunday, January 29, 2023
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    Malaysia posts 4pc inflation in October

    THE STAR – Malaysia’s consumer price index (CPI) in October was up four per cent an on annual basis to 128.6, as inflation moderated from September due to the absence of base effects.

    The increase was slightly above the median expectation of a poll of Reuters economists, who had predicted a rate of growth of 3.9 per cent.

    Core inflation, meanwhile, which measures changes in the prices of all goods and services excluding volatile items of fresh food and administered prices of goods by the government, increased 4.1 per cent in October as compared to the same month last year. For the period of January to October, inflation increased 3.3 per cent as compared to the same period in 2021.

    According to National Statistics Department chief economist Datuk Seri Mohd Uzir Mahidin, inflation moderated from 4.5 per cent recorded in the previous month as there was a slower increase in the housing, water, electricity, gas and other fuels group to 1.5 per cent from four per cent in the September.

    “This slower increase was due to the absence of base effects attributed by the discontinuation of electricity discounts under the National People’s Well-Being and Economic Recovery Package (Pemulih) from July to September 2021,” he said in a statement.

    The average price of standard chicken in Peninsular Malaysia in October was MYR9.46 per kilogramme. PHOTO: THE STAR

    Food and non-alcholic beverages, however, showed a higher rate of growth of 7.1 per cent, against an increase of 6.8 per cent in September, despite the slower growth momentum in certain food items such as vegetable and oils and fats.

    “Chicken which is the largest weight in the subgroup of Meat (46.1 per cent) showed an increase to 4.8 per cent as compared to 3.7 per cent in September 2022.

    “The average price of standard chicken in Peninsular Malaysia in October 2022 increased to MYR9.46 per kg as compared to MYR9.17 per kilogramme (kg) in September 2022, exceeding the control price level set by the government (MYR9.40 per kg).

    “Besides, duck recorded an increase of 10.8 per cent as compared to 10.4 per cent in the previous month,” said Mohd Uzir.

    All other group also recorded increases year-on-year, except for communication, which stayed flat.

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