KUALA LUMPUR: Malaysia's inflation rate in July rose at a slower pace of 3.2%, compared with a Bloomberg survey of 3.4%, due to higher transport costs.
The Statistics Department said on Wednesday the Consuer Price Index's (CPI) increase of 3.2% year-on-year was 0.4 point lower than the June increase of 3.6% on-year.
It said among the major groups which recorded increases were the indices for transport (+7.7%), food & non-alcoholic beverages (+4.2%), health (+2.9%).
“The index of transport group showed a significant increase of 7.7% on a year-on-year basis in July 2017, after rising 10.5% in June 2017,” it said.
The department said the average price of one litre of RON95 petrol was RM1.96 in July 2017 compared to RM1.75 in July 2016.
As for RON97, the average price increased to RM2.21 in July 2017 compared to RM2.10 in July 2016.
Fuels & lubricants for personal transport equipment accounted for 7.8% of the CPI weights.
As for the index for food & non-alcoholic beverages which accounted 30.2% in the CPI weights, increased 4.2% in July 2017.
The increase in the index for food & non-alcoholic ceverages was reflected in most states in Malaysia especially those in highly urbanised states.
On a monthly basis, the index for food & non-alcoholic beverages increased 0.2% in July 2017, after an increase of 0.4% in June 2017. The index for non-food decreased 0.2% in July 2017 compared with the preceding month.
The department also said core inflation rose 2.6% in July 2017 compared with the same month of the previous year.
Among the major groups which influenced the higher core rate were price increases of food & non-alcoholic beverages (+4.4%), transport (+3.3%), health (+2.9%), recreation services & culture (+2.6%), housing, water, electricity, gas & other fuels (+2.6%) and furnishings, household equipment & routine household maintenance (+2.6%).
CPI for January to July 2017 increase 4% compared with the previous corresponding period.
The index for food & non-alcoholic beverages was the main contributor to the CPI rise in the period January to July 2017, registered an increase of 4.2%.
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