Malaysia’s CPI Up 2.1 Percent In 2016

Kuala Lumpur, The Consumer Price Index (CPI), which is a measure of inflation, rose 2.1 percent to 116.9 in 2016 compared to 114.8 registered in 2015, said the Department of Statistics Malaysia.

This was following a 3.9 percent rise in the index for food and non-alcoholic beverages, which carries a weightage of 30.2 percent to the index.

Other major groups which contributed to the CPI increase were alcoholic beverages and tobacco (+17.2 percent); miscellaneous goods and services (+2.9 percent); restaurant and hotels; and health.

In a statement today, the Statistics Department said the increases were, nevertheless, partly offset by the transport group which had dropped 4.6 percent due to lower prices for petrol, Malaysian news agency Bernama reported.

In December, the CPI rose by 1.8 percent, following the 3.7 percent rise in the index for food and non-alcoholic beverages, as well as housing, water, electricity, gas and other fuels (+2.1 percent).

However, the transport group decreased slightly by 0.6 percent compared to the same month last year, the department added.

It said the decline in the transport group was due to the continued drop of 1.5 percent and 5.5 percent in November and October 2016, respectively.

The average price of one liter of RON95 petrol was RM1.90 in December 2016, down from RM1.95 in December 2015, while the RON97 petrol price declined to RM2.25 in December 2016 from RM2.30 in the same month last year.

Source: Qatar News Agency