THE STAR – Malaysia’s inflation rose 4.5 per cent in September, lower than 4.7 per cent in the preceding month, according to the Statistics Department (DOSM).
The increase in the consumer price index (CPI) was less than the 4.6 per cent growth forecast by 16 economists in a Reuters poll.
In a statement, DOSM said food inflation increased at a slower rate of 6.8 per cent as compared to August 2022 (7.2 per cent).
Apart from the food group, among groups that recorded a high increase were restaurants & hotels increased 6.9 per cent followed by transport (5.3 per cent); furnishings, household equipment and routine household maintenance (4.4 per cent) and housing, water, electricity, gas and other fuels (4.0 per cent).
DOSM said the slow increase in the food group in September 2022 was driven by a moderate increase in the component of food at home which was 5.7 per cent as compared to 6.4 per cent in August 2022.
This increase was driven by the increase in all subgroups of food which recorded an increase between 3.3 per cent and 8.8 per cent.
On a monthly basis, the inflation in September 2022 moderated to 0.1 per cent as compared to 0.2 per cent in August 2022.
“The inflation for the period of January to September 2022 was 3.3 per cent as compared to the same period of the previous year,” DOSM said.
Inflation for the third quarter of 2022 increased by 4.5 per cent as compared to the same quarter of the previous year.
“Core inflation registered an increase of 4.0 per cent in September 2022 as compared to August 2022 (3.8 per cent),” the department said.
Core inflation measures changes in the prices of all goods and services, excluding volatile items of fresh food as well as administered prices of goods by the government.