Overview
Malaysia's inflation in February
2023 remained at 3.7 per cent with the index recording 129.8 as against 125.2
in the same month of the preceding year. The increase in Malaysia’s inflation
in February 2023 was still driven by Restaurants & Hotels (7.4%), Food
& Non-Alcoholic Beverages (7.0%) and Transportation (3.7%). This was followed by Furnishings, Household Equipment & Routine Household Maintenance (3.4%); Miscellaneous
Goods & Services (2.5%) and Health (1.8%). Housing, Water, Electricity, Gas
& Other Fuels and Recreation Services & Culture inclined 1.7 per cent respectively.
All subgroups in Food &
Non-Alcoholic Beverages recorded an increase between 0.6 per cent to 9.0 per
cent. The subgroup of Meat recorded an increase of 9.0 per cent. This was followed by Rice, bread & other cereals (6.7%); Milk, cheese & eggs (6.6%); Vegetables (5.8%) and Fruits (4.7%). Sugar, jam, honey, chocolate & confectionery and Fish &
seafood increased by 3.6 per cent and 3.2 per cent respectively. Meanwhile,
Oils & fats subgroup moderated to 0.6 per cent.
On a monthly basis, inflation in
February 2023 increased 0.2 per cent. 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 remained at 3.9 per cent.
In February 2023, six states
recorded increases above the national inflation level of 3.7 per cent namely
Wilayah Persekutuan Putrajaya (4.7%), Selangor (4.3%), Johor (4.1%), Sarawak (4.0%), Pahang (4.0%) and Perak (3.8%). However, Kedah and Wilayah Persekutuan Labuan recorded the lowest
increase of 2.3 per cent respectively.
Malaysia recorded a lower inflation
rate than some selected countries, namely the Philippines (8.6%), Eurozone (8.5%), United States of America (6.0%), Indonesia (5.5%), Republic of Korea (4.8%), Vietnam (4.3%) and
Thailand (3.8%).
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