Overview
Malaysia’s
inflation eased to 3.8 per cent in December 2022 with the index recording 129.2
as against 124.5 in the same month of the preceding year (November 2022: 4.0%).
The slower increase in the Food & Non-Alcoholic Beverages group of 6.8 per
cent as compared to 7.3 per cent in the previous month contributed to the lower
increase in national inflation. This was followed by Transport (4.9%) and
Furnishings, Household Equipment & Routine Household Maintenance (3.7%)
which also recorded a slower increase as compared to November 2022. However,
Restaurants & Hotels continued to show an increase of 7.4 per cent as
against November 2022 (7.0%).
In
December 2022, almost all subgroups in Food & Non-Alcoholic Beverages
recorded a slower increase as compared to November 2022. The subgroup of Meat
recorded the highest increase at 7.8 per cent in December 2022. This was followed by Milk, cheese & eggs (7.1%) and Rice, bread & other
cereals (7.0%). Sugar, jam, honey, chocolate & confectionery and Fruits
increased by 4.1 per cent and 4.0 per cent respectively. Meanwhile, Oils &
fats subgroup moderated to 1.0 per cent.
Inflation
for the overall year 2022 increased
3.3 per cent as compared to 2.5 per cent recorded in 2021. On a monthly basis, inflation in December 2022
recorded a 0.2 per cent increase as compared to 0.3 per cent in November 2022. Meanwhile, core inflation that measures changes in the prices of
all goods and services, excluding volatile prices of items for fresh food as well as administered
prices of goods by the government registered an increase of 4.1 per cent in
December 2022 (November 2022: 4.2%).
In
December 2022, four states that showed increases above the national inflation level of 3.8 per cent were Wilayah Persekutuan
Putrajaya (7.9%), Selangor (4.5%), Sarawak (4.1%) and Johor (3.9%). However,
Kedah recorded the lowest increase of 2.2 per cent.
Malaysia
recorded a lower inflation rate than some selected countries, namely the Euro
Zone (9.2%), Philippines (8.1%), United States of America (6.5%), Thailand
(5.9%), Indonesia (5.5%) and the Republic of Korea (5.0%).
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