Consumer prices in Malaysia rose 3.2 percent year-on-year in January of 2017, compared to a 1.8 percent increase in December 2016 and above markets expectations of a 2.8 percent rise. It was the highest inflation rate since February 2016, mainly driven by a faster increase in prices of food and non alcoholic beverages and a surge in cost of transport.
Year-on-year, upward prices pressure came from: food & non-alcoholic beverages (4.0 percent from 3.7 percent in December), transport (8.3 percent from -0.6 percent), alcoholic beverages & tobacco (0.2 percent from 0.1 percent); housing, water, electricity, gas & other fuels (1.9 percent from 2.1 percent); furnishing, household equipment and routine maintenance (1.5 percent from 1.4 percent), health (2.5 percent from 2.4 percent), recreation services & culture (3.2 percent from 3.3 percent), education (2.0 percent from 1.7 percent), restaurants & hotels (2.1 percent from 1.9 percent) and miscellaneous goods & services (1.4 percent from 1.8 percent). In contrast, downward prices pressure came from: clothing and footwear (-0.7 percent from -0.5 percent) and communication (-0.2 percent from -2.6 percent).
Among food & non-alcoholic beverages, customers had to pay more for all categories: food (4.0 percent from 3.8 percent); food at home (4.4 percent from 4.1 percent); rice, bread & other cereals (0.8 percent from 0.7 percent); meat (2.0 percent from 3.0 percent); fish & seafood (6.1 percent from 5.6 percent); milk & eggs (0.5 percent from 0.1 percent), oils & fats (37.9 percent from 36.9 percent), fruits (2.1 percent from 2.7 percent); vegetables (7.8 percent from 4.8 percent); sugar, jam, honey, chocolate & confectionary (0.4 percent from 2.0 percent); food products (5.4 percent from 5.4 percent), food away from home (3.6 percent from 3.5 percent) and coffee, tea, cocoa & non-alcoholic beverages (0.0 percent from 0.3 percent).
Core consumer prices went up 2.3 percent year-on-year, following a 2.1 percent gain in December and marking the highest figure in nine months.
On a monthly basis, consumer prices increased by 1.1 percent in January, compared to a flat reading in the prior month. Prices rose for: food & non-alcoholic beverages & tobacco ( 0.9 percent); furnishings, household equipment and routine maintenance ( 0.4 percent), health (0.3 percent), transport (5.9 percent), education (1 percent), restaurants & hotels ( 0.3 percent) and miscellaneous goods and services (0.1 percent). Prices were flat for alcoholic beverages & tobacco, clothing & footwear; housing, water, electricity, gas & other fuels and communication.
2/22/2017 5:52:28 AM