Inflation in April 2023 climbs to 3.3%: DoSM

Inflation in April 2023 climbs to 3.3%: DoSM

Index points stand at 130.0 compared to 125.9 in same month last year

KUALA LUMPUR – Malaysia’s Consumer Price Index (CPI) for April 2023 increased to 3.3% with the index points standing at 130.0 from 125.9 in the same month last year, said the Malaysian Statistics Department (DoSM).

In a statement today, chief statistician Datuk Seri Mohd Uzir Mahidin said the increment was driven mainly by restaurants and hotels (6.6%) and food and non-alcoholic beverages (6.3%).

Nevertheless, the slower increase in the transport group (2.3%) compared to March 2023’s 2.4% had offset a further rise in inflation to a certain extent, he said.

“The increase in Malaysia’s inflation was also due to the rise in furnishings, household equipment and routine household maintenance (3.0%); miscellaneous goods and services (2.5%); health (2.1%) and recreation services and culture (1.8%),” he said.

Housing, water, electricity, gas and other fuels and education recorded an increase of 1.6%, respectively.

Meanwhile, both alcoholic beverages and tobacco; and clothing and footwear inclined 0.6% and 0.5%, respectively.

Uzir said the food and non-alcoholic beverages group contributed 29.5% of total CPI, noting that out of the 230 food and beverages items, 84.3% recorded price increases as compared to April 2022.

He said the food at home component moderated to 5% in April 2023 compared to 5.6% recorded in the previous month.

The implementation of the festive season maximum price scheme for the period of 16 days starting April 15-30 had eased the inflation to a certain extent, Mohd Uzir said.

At the same time, food away from home also recorded a lower increase of 8.1% versus March 2023’s 8.6%.

“The Menu Rahmah initiative, introduced by the government, to some extent helped in easing the inflation of food away from home from continuing to soar,” he said.

At the state level, nine states recorded increases below the national inflation level of 3.3% with Kedah and Labuan recording the lowest increase of 2%, respectively.

Putrajaya (4.1%), Sarawak (3.9%), Selangor (3.8%), Pahang (3.5%) and Perak (3.4%) recorded increases above the national inflation level.

Uzir added the monthly headline inflation in April 2023 increased marginally at 0.1% at the same rate as recorded in the previous month, mainly contributed by miscellaneous goods and services (0.4%), transport (0.3%) and recreation services and culture (0.3%).

Core inflation, which measures changes in the prices of all goods and services, excluding volatile prices of fresh food as well as administered prices of goods by the government, eased to 3.6% from March 2023’s 3.8%.

“The increase was mainly due to a slower increase in the food and non-alcoholic beverages group (7.2%) and restaurants and hotels (6.6%),” he said.

– Bernama, May 26, 2023

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