Malaysia Inflation Rate Rises to 13-Month High
Malaysia's annual inflation rate rose to 1.5 percent in June 2019 from 0.2 percent in the previous month and compared to market expectations of 1.6 percent. That was the highest rate since May 2018, as the effects of tax policy changes introduced last year faded.
7/24/2019 10:29:39 AM
Prices of food & non-alcoholic beverages increased by 2.3 percent year-on-year in June, the most since April last year and compared to a 1.2 percent rise in May, boosted by higher costs of: vegetables (5.2 percent vs 4.5 percent); milk & eggs (2.5 percent vs 0.7 percent in May); fruits (1.1 percent vs -0.1 percent); food away from home (4.2 percent vs 2.9 percent); fish & seafood (0.5 percent vs 0.9 percent); rice, bread & other cereals (0.8 percent vs -0.3 percent); and food products (1.5 percent vs -0.8 percent). Meantime, deflation eased for meat (-1.8 percent vs -3.1 percent); oils & fats (-0.3 percent vs -1.2 percent); and sugar, jam, honey (-0.4 percent vs -2.2 percent).
Also, upward pressure came from: housing, water, electricity, gas, & other fuels (2.3 percent vs 1.8 percent); restaurants and hotels (1.6 percent vs 0.6 percent); education (1.4 percent vs 1.2 percent); furnishing, household equipment & routine maintenance (3.1 percent vs 0.5 percent); alcoholic beverages & tobacco (2.1 percent vs 1.3 percent); miscellaneous goods & services (1.4 percent vs -2.1 percent); health (1.2 percent vs -0.3 percent); recreation services & culture (2.7 percent vs -0.4 percent); and communication (2.1 percent vs -0.9 percent).
On the other hand, cost continued to decline for transport (-2.1 percent vs -2.5 percent) and clothing and footwear (-0.7 percent vs -3.2 percent).
Core consumer prices, which exclude most volatile items of fresh food as well as administered prices of goods and services, rose 1.9 percent in June, the most since January last year and compared to a 0.4 percent gain in May.
On a monthly basis, consumer prices were flat in June, following a 0.2 percent rise in May.