Malaysia’s inflation rate rises 2.9pc in Oct due to rising fuel, utilities prices

Kuala Lumpur, Malaysia’s inflation rate, as measured by Consumer Price Index (CPI), rose 2.9 percent in October 2021 from a year earlier due to rising fuel and utilities prices, official data showed.

The increment was mainly due to a double-digit increase of 11.3 percent in the transport group, the Department of Statistics Malaysia (DOSM) said in a statement. Meanwhile, the index for housing, water, electricity, gas and other fuels rose 3.2 percent. Other items such as furnishings, household equipment and routine household maintenance grew 2.1 percent, with food and non-alcoholic beverages increasing 1.9 percent.The DOSM said that the inflation rate for the coming months will be influenced by external factors such as the rise in both global crude oil and food prices.

The opening of interstate travel is also expected to affect the prices of some tourism-related groups, it added. From January to October, the CPI rose 2.3 percent as compared to the same period last year. On a monthly basis, the CPI increased 0.7 percent compared to September 2021. 

Posted by: Riya Deogharia