Malaysia’s inflation up 1.8 pct in February 2024 — DOSM

KUALA LUMPUR: Malaysia’s inflation increased by 1.8 per cent in February 2024 with the index points recorded at 132.1 against 129.8 a year earlier, according to the Department of Statistics Malaysia (DOSM).

Chief statistician Datuk Seri Mohd Uzir Mahidin said the increase in inflation was driven by housing, water, electricity, gas and other fuels (2.7 per cent); recreation, sport and culture (1.6 per cent) and transport (1.2 per cent).

“However, the other main groups recorded a slower increase were restaurant and accommodation services (2.9 per cent), health (2.2 per cent), food and beverages (F&B) (1.9 per cent) and education (1.5 per cent),” he said in a statement yesterday.

The F&B group, which contributes 29.8 per cent of the total consumer price index (CPI) weightage, recorded a slower increase of 1.9 per cent in February 2024 compared to 2.0 per cent in January 2024, he added.

Mohd Uzir said the monthly inflation continued to show an increase of 0.5 per cent (January 2024: 0.2 per cent) with housing, water, electricity, gas and other fuels; restaurant and accommodation services; and transport posting increases of 1.3 per cent, 0.6 per cent and 0.4 per cent, respectively.

Core inflation increased at the same rate as January 2024 at 1.8 per cent due to increases in F&B, restaurant and accommodation services, which recorded expansion of 3.1 per cent and 2.9 per cent, respectively, in February.

Malaysia’s 1.8 per cent inflation rate was lower than Vietnam’s (4.0 per cent), Philippines (3.4 per cent), the United States (3.2 per cent), South Korea (3.1 per cent) and Indonesia (2.8 per cent).

It was higher than China’s (0.7 per cent) and Thailand’s (-0.8 per cent).