DOSM: April inflation at 1.8% for third consecutive month

MALAYSIA’s inflation rate remained at 1.8% in April 2024 for the third consecutive month, with index points at 132.4 compared to 130.0 in the same period last year, according to the Statistics Department.

It attributed the inflation increase in April 2024 to rises in the main groups of restaurant and accommodation services (3.5%), personal care, social protection, and miscellaneous goods and services (3.1%), and housing, water, electricity, gas, and other fuels (3.0%).

Inflation for restaurant and accommodation services rose to 3.5% in April 2024 from 3.0% in March 2024, driven mainly by an increase in beverage preparation services, which went up to 3.9% in April 2024 from 3.7 percent in March 2024.

“The overall monthly inflation recorded an increase of 0.2% compared to 0.1% in March 2024.

“The increase was primarily driven by personal care, social protection, and miscellaneous goods and services (0.9%); recreation, sport, and culture (0.8%); and restaurant and accommodation services (0.3%),” it said in a statement on the April 2024 Consumer Price Index (CPI).

Meanwhile, core inflation in April 2024 rose to 1.9% compared to 1.7% in March 2024.

“At the state level, most states recorded inflation rates below the national level of 1.8%. However, four states reported higher increases: Pulau Pinang (3.2%), Sarawak (2.8%), Pahang (2.4%) and Selangor (2.2%),” it said.

Comparatively, Malaysia’s inflation rate (1.8 percent) was lower than Vietnam (4.4%), the Philippine (3.8%), the US (3.4%), Indonesia (3.0%), and the Republic of Korea (2.9%), but higher than Thailand (0.2%) and China (0.3%). – May 24, 2024

Main photo credit: Investopedia

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