Malaysia's Inflation In March 2022 Increased By 2.2%, Compared To 1.7% Last Year
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Malaysia's Inflation In March 2022 Increases By 2.2%, Compared To 1.7% A Year Ago
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The Department of Statistics Malaysia (DOSM) reported that Malaysia’s Consumer Price Index (CPI) in March 2022 has indicated a 2.2% increase in inflation, as compared to 1.7% a year ago. Additionally, March’s CPI exceeded the average inflation rate of 1.9% recorded for the period of January 2011 to March 2022. 

According to chief statistician Datuk Seri Dr Mohd Uzir Mahidin, the increase in headline inflation was primarily led by the 4% year-on-year increase in food and non-alcoholic beverages. 

“Food inflation remained a major contributor to inflation. The 4% growth in the food and non-alcoholic beverages group was largely due to an increase in the food at home component, which rose by 4.3% compared to 4.1% recorded in February 2022,” Datuk Seri Dr Mohd Uzir added.

In addition, the chief statistician said that the meat subgroup – which rose by 7.6% in March 2022 – remained the highest contributor to food inflation, with chicken as the biggest component increasing by 10.5%. This is followed by beef, which increased by 4.3%. 

Aside from that, the inflated CPI was also driven by the rise in consumer items such as furnishings, household equipment and routine household maintenance (3%), restaurants and hotels (2.9%), and transport (2.6%). Miscellaneous goods and services, as well as recreation services and culture also grew by 1.9% and 1.1%, respectively.

Meanwhile, utilities and energy (housing, water, electricity, gas, and other fuels), as well as education both rose by 0.9%. Alcoholic beverages and tobacco index also increased slightly by 0.5%.

Datuk Seri Dr Mohd Uzir further highlighted that there was a rise in inflation in all states; Selangor and Wilayah Persekutuan Putrajaya recorded the highest rate at 2.9% – above the national inflation rate of 2.2%. On the other hand, Sarawak (1.7%), Negeri Sembilan (1.6%), as well as Sabah and Wilayah Persekutuan Labuan (1.3%) recorded the lowest increase in CPI. 

Core inflation, meanwhile, showed an increase of 2.0% in March 2022 as compared to the previous year, with the transport group registering the highest increase at 3.9%. Other groups which also recorded a rise included the food and non-alcoholic beverages (3.5%), furnishings, household equipment and routine household maintenance (3%), restaurants and hotels (2.9%), miscellaneous goods and services (1.9%), and recreation services and culture (1.1%).

(Sources: New Straits Times, Department of Statistics Malaysia)

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