Economy, İnflation Rate, Consumer Price Index, Mohd Uzir Mahidin

Economy, İnflation Rate

September inflation above forecast, Terengganu highest in country

September inflation above forecast, Terengganu highest in country

22/10/2021 11:41:00 AM

September inflation above forecast, Terengganu highest in country

KUALA LUMPUR: Malaysia's inflation rate in September rose 2.2% from a year earlier – the eighth straight month of increase due to the base effect last year – and the rise in the rate was slightly above Reuters' forecast of 2.1%.

Commenting on the report, Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the transport group continued to record a double-digit increase since March and edged up by 11% in September 2021 as compared to a year ago.The food & non-alcoholic beverages increased 1.9% and the highest increase was recorded by meat (5.8%) mainly due to the increase in the average price of chicken in September 2021 to RM9.35 per kilogram as compared to RM8.50 a year ago.

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The data also showed furnishings, household equipment & routine household maintenance increased by 1.7% followed by housing, water, electricity, gas & other fuels (0.7%) and recreation services & culture (0.6%).Both restaurants & hotels and health registered a marginal increase of 0.3%, while alcoholic beverages & tobacco rose by 0.4%.

Communication remained unchanged, while both clothing & footwear and miscellaneous goods &services declined by negative 0.5%. Education also posted a marginal decline of negative 0.1% as compared a year ago.For the third quarter of 2021 rose by 2.2% to 122.6 as compared to 120.0 in the same quarter of the preceding year.

On a quarterly basis, the CPI declined to negative 0.4% versus the second quarter.On a month-on-month comparison, the CPI in September increased by 0.2% from August due to higher prices for food & non-alcoholic beverages (0.6%); housing, water, electricity, gas & other Fuels (0.1%).

Mohd Uzir pointed out core index -- which measures all goods and services except volatile items of fresh food as well as administered prices -- rose 0.6% in September 2021 from a year ago.The increase was due to higher prices for furnishings, household equipment & routine household maintenance (1.7%) and food & non-alcoholic beverages (1.0%).”

He added the CPI without fuel increased by 0.8% in September 2021 to 113.4 from 112.5 a year ago. CPI without fuel covers all goods and services except unleaded Petrol RON95, unleaded Petrol RON97 and diesel.The department pointed out all states recorded an increase in the CPI in September 2021.

Eight states namely Terengganu (3.1%), Pahang (2.8%), Kelantan (2.8%), Sarawak (2.5%), Perak (2.5%), Johor (2.4%), Kedah & Perlis (2.4%) and Melaka (2.3%) have surpassed the national CPI rate of 2.2% in September 2021.Notably, all states registered an increase in the index of food & non-alcoholic Beverages. The highest increase was recorded by Pahang (2.7%), followed by Selangor & Putrajaya (2.4%), Perak (2.4%), Terengganu (2.2%), Johor (2.2%), Melaka (2.2%) and Kelantan (2.1%).

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Meanwhile, the increase for the remaining states was below the national CPI rate of food & non-alcoholic beverages. Read more: The Star »

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