The consumer price index (CPI) recorded a month-on-month increase of 0.3 per cent in May 2023, contributed by a 0.3-per-cent increase in both food and non-alcoholic beverages prices; and non-food prices.
The month-on-month increase in food and non-alcoholic beverages prices was contributed by the prices of vegetables (1.1 per cent); fish and seafood (0.5 per cent); and meat (0.4 per cent). The rise in vegetables prices was due to the rising cost of fertiliser for producing chillies. The increase in non-food prices was attributed to clothing and footwear (9.0 per cent); miscellaneous goods and services (0.7 per cent); and recreation and culture (0.5 per cent).
For year-on-year changes, the CPI increased by 0.8 per cent compared to May 2022. The rise was driven by an increase in the prices of food and non-alcoholic beverages; and non-food by 2.8 per cent and 0.3 per cent.
The year-on-year increase in food and non-alcoholic beverages prices was due to the rise in rice and cereals (5.6 per cent); fish and seafood (3.2 per cent); and meat (3.0 per cent), among others driven by the rise in the prices of raw materials and limited supply.
The increase in non-food prices was driven by clothing and footwear (6.7 per cent); restaurants and hotels (4.2 per cent); and recreation and culture (2.2 per cent). The prices of clothing and footwear increased in line with the rise in clothing material prices.
Restaurants and hotels prices rose following an increase in the price of contract catering services.
Meanwhile, the prices of recreation and culture increased mainly due to the increase in prices of holiday including haj and umrah packages.
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).
