The inflation for the period of January to August 2022 increased 3.1 per cent as compared to the same period of the previous year. It was driven by the strong demand, commodity prices that remain high and disruptions in global supply chains. Among the group that recorded increases were Food & Non-Alcoholic Beverages (5.1%), Transport (4.5%) and Restaurants & Hotels (4.0%).
The increase in the Food & Non-Alcoholic Beverages group for the period of January-August 2022 was mainly contributed by the increase in the subgroup of Meat (9.2%), followed by Milk, cheese & eggs (7.3%). Transport group recorded an increase of 4.5 per cent mainly due to the increase in the average price of Brent crude oil by 58.4 per cent in the first eight months of this year. Restaurants & Hotels groups also recorded an increase of 4.0 per cent for the period of January–August 2022 as compared to 0.2 per cent in the same period of the preceding year.
As compared to August 2021, Malaysia's inflation rate in August 2022 increased to 4.7 per cent (July 2022: 4.4%). The increase was contributed by Food & Non-Alcoholic Beverages which increased by 7.2 per cent. This increase was driven by the Food away from home with 8.4 per cent, while Food at home increased by 6.4 per cent. However, there are still some food items that recorded a decrease in price as compared to July 2022 such as chicken (-3.8%), barramundi fish (-2.4%) and vegetables such as cucumber (-4.6%), french beans (-3.6%) and round cabbage (-2.6%).
The inflation rate in August 2022 is lower than the Eurozone (9.1%), The United States of America (8.3%), Thailand (7.9%), Philippines (6.3%) and The Republic of Korea (5.7%). The increase in inflation is attributed to the increase in production input and fuel prices.
Month on month, the increase in August 2022 moderated to 0.2 per cent as compared to 0.4 per cent in July 2022. This was mainly contributed by the Food & Non-Alcoholic Beverages and Transport group which increase at a slower rate than the previous month.
The full publication of the Consumer Price Index Malaysia, August 2022 can be downloaded from eStatistik portal.
DEPARTMENT OF STATISTICS, MALAYSIA
23 September 2022
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248