Malaysians are putting less money in transportation, more on F&B

MALAYSIAN consumers are spending the least amount of money on transportation as the movement control orders (MCOs) continue until the end of the year, causing the total consumer price index (CPI) for November 2020 to drop 1.7% year-on-year (yoy).

The decrease in the overall index was attributed by the decline in transport (-11.1%), housing, water, electricity, gas and other fuels (-3.3%), clothing and footwear (-0.5%) and furnishings, household equipment and routine household maintenance (-0.1%), ‘which contributed to 45.7% to overall weight’, according to the Department of Statistics (DOSM).

However, food and non-alcoholic beverages increased by 1.4%, contributing 29.5% of CPI weight.

Similarly, miscellaneous goods and services inclined by 2.3%, followed by health (1%), education (0.6%), alcoholic beverages and tobacco (0.5%) and recreation services and culture (0.1%).

Commenting on the report, chief statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said: “The CPI without fuel fell 0.1% in November 2020 as compared to November 2019. This covers all goods and services except unleaded petrol RON95 and RON97 as well as diesel.

The average price of unleaded petrol RON95 in November 2020 decreased to RM1.63/litre as compared to RM2.08 in November 2019. In addition, the average price of unleaded petrol RON97 decreased to RM1.93/litre as compared to RM2.62 while the average price of diesel declined to RM1.75/litre from RM2.18 in the corresponding month of the preceding year.

The index for all states decreased between -1.2% to -2.6 % in November 2020 as compared to November 2019. The highest decrease was recorded by Melaka and Kedah & Perlis at -2.6% respectively.

This was followed by Sabah and Wilayah Persekutuan Labuan (-2.5%), Sarawak (-2.4%) and Negeri Sembilan (-2.4%).

However, all states registered an increase in the index of food & non-alcoholic beverages. The highest increase was recorded by Selangor & Wilayah Persekutuan Putrajaya at 2%.

This was followed by Terengganu (1.8%), Johor (1.7%) and Kelantan (1.5%). – Dec 23, 2020

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