Malaysia’s inflation in July 2024 increased at 2.0
per cent, remained unchanged since May 2024
Malaysia’s inflation in
July 2024 increased at 2.0 per cent, remained unchanged since May 2024 with the
index points stood at 133.1 as against 130.5 in the same month of the previous
year. The increase in inflation in July 2024 was driven by the incline in the
main group of Restaurant & Accommodation Services (3.4%); Personal Care, Social
Protection & Miscellaneous Goods & Services (3.2%); Recreation, Sport
& Culture (2.2%) and Health (1.9%). Meanwhile, Food & Beverages (1.6%)
recorded a slower increase than the previous month.
Inflation for Restaurant
& Accommodation Services increased to 3.4 per cent (June 2024: 3.3%). This
was due to the increase in the main subgroup of Beverage preparation services
to 4.3 per cent (June 2024: 4.2%). Meanwhile, the inflation for Personal Care,
Social Protection & Miscellaneous Goods & Services increased by 3.2 per
cent in July 2024 as against 2.8 per cent in June 2024. The incline was
contributed by the expenditure class of Jewellery & watches at 18.1 per
cent (June 2024: 15.3%).
The Food & Beverages
group recorded an increase of 1.6 per cent in July 2024 (June 2024: 2.0%). The
main subgroup of Food at home increased by 0.3 per cent in July 2024 as
compared to 0.9 per cent in the previous month. Meanwhile, the main subgroup of
Food away from home showed a slower increase of 3.2 per cent as compared to 3.3
per cent in the previous month.
The overall monthly
inflation for July 2024 recorded a slower increase of 0.1 per cent (June 2024:
0.2%). The increase was mainly driven by Insurance & Financial Services
(0.5%); Restaurant & Accommodation Services (0.4%); Health (0.3%) and
Personal Care, Social Protection & Miscellaneous Goods & Services
(0.3%). Meanwhile, the core inflation increased at 1.9 per cent in July 2024,
the same rate as recorded in June 2024. The increase was due to the Restaurant
& Accommodation Services (3.4%); Personal Care, Social Protection &
Miscellaneous Goods & Services (3.2%) and Food & Beverages (2.7%).
For inflation at the
state level, most of the states recorded increases below the national inflation
level of 2.0 per cent. However, four states recorded increases above the
national inflation level namely Pulau Pinang (3.4%), Sarawak (2.7%), Pahang
(2.6%) and Selangor (2.4%).
In comparison to inflation in other selected countries, inflation in Malaysia (2.0%) was lower than inflation in Vietnam (4.4%), Philippines (4.4%), Republic of Korea (2.6%), Euro Zone (2.6%) and Indonesia (2.1%). However, the rate was higher than Thailand (0.8%) and China (0.5%).
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#1 /var/www/html/dosm/vendor/yiisoft/yii2/base/Application.php(390): yii\web\Response->send()
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