KUALA LUMPUR – Inflation in July 2022 saw a year-on-year (Y-o-Y) increase of 4.4% for Malaysia, said the Department of Statistics Malaysia (DoSM).
In a recent statement, DoSM’s chief statistician Datuk Sri Mohd Uzir Mahidin stated that the consumer price index (CPI) grew to 127.9 in July of this year in comparison to the 122.5 that was reported in July 2021.
He said that the primary contributor to the growth of inflation in July 2022 was the increase in food prices by 6.9%.
Additionally, he explained that the rise in inflation in July of this year was also a result of the lower base effect in 2021 caused by electricity bill discounts that were given to customers under the PEMULIH programme that was implemented from July to September 2021.
According to him, certain food items had a slower growth momentum in July 2022 compared to June of this year. These subgroups included fish and seafood (4.2%) and vegetables (7.1%).
Aside from the food group, he stated that all the other categories had shown growth, with the exception of the communication category which did not change when compared to the same month of 2021.
The restaurants and hotels group grew 5.8% while transport came next on the list with 5.6%. Rounding out the list for highest price inflation in July were furnishings, household equipment & routine household maintenance at 4.0% and housing, water, electricity, gas & other fuels at 3.8%.
Furthermore, the recreation services and culture group grew by 2.5%, while miscellaneous goods & services and education each recorded a 2.1% and 1.2% growth for July 2022.
According to the DoSM statement, when compared to the same period in 2021, the price inflation from January to July of this year saw a 2.8% growth rate. Compared to June 2022, the inflation in July 2022 had grown by 0.4%.
The statement explained that the rise was primarily due to the increase in the restaurant & hotels as well as the food & non-alcoholic beverages group that each recorded 0.8% and 0.7% in July of this year.
Apart from that, the furnishings, household equipment & routine household maintenance and the transport group also grew by 0.6% and 0.5% respectively.
Meanwhile, the core inflation rate and the inflation without fuel both marked an increase of 3.4% and 4.2% each for July of this year, in comparison to the same month in 2021.
Furthermore, the inflation in July 2022 for all the Malaysian states marked an increase, with three of the states experiencing increases that were above the 4.4% national level.
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