KUALA LUMPUR: Malaysia’s inflation rate for September 2024 has eased to 1.8%, down from 1.9% in August this year, according to the Department of Statistics Malaysia (DoSM).
Meanwhile, the consumer price index (CPI) for September 2024 rose to 133.2, compared to 130.8 in the same period last year.
DoSM attributed this increase to rises in key categories, including personal care, social protection, and miscellaneous goods and services, which saw a rise of 3.1%.
This was followed by transport at 1.1%, alcoholic beverages and tobacco at 0.8%, furnishings, household equipment, and routine household maintenance at 0.6%, and information and communication at 0.4%.
Conversely, clothing and footwear remained in negative territory at -0.3%.
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DoSM reported that the food and beverages group, which contributes 29.8% of the total CPI weight, increased by 1.6% in September 2024, matching the rate from August.
Within this group, the primary subgroup of food at home rose by 0.4 per cent, driven by inflation in meat expenditures, which increased by 0.7% (August 2024: -0.7%).
Chicken, the largest component (32.6%) in the meat expenditure class, recorded a rise of 1.3% (August 2024: -2.2%).
According to DoSM data, the average price of standard chicken in Malaysia for September 2024 was RM10.47 per kilogramme, up from RM10.01 per kilogramme in September 2023 (August 2024: RM10.15).
“Meanwhile, the average price of standard chicken in Peninsular Malaysia for September 2024 was RM9.38 per kilogramme, compared to RM9.28 per kilogramme in September 2023 (August 2024: RM9.27),” the department stated in its CPI report for September 2024.
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Chief statistician Datuk Seri Dr Mohd Uzir Mahidin noted that most states recorded inflation rates below the national level of 1.8%, except for Pulau Pinang (3.1%), Pahang (2.7%), Sarawak (2.3%), and Selangor (2.3%).
“All states registered increases in the inflation of food and beverages, with Selangor recording the highest rate at 2.8 per cent, followed by Pahang at 2.2%, Pulau Pinang at 2.0% and Sarawak at 1.6%,” he said.
Inflation for the third quarter of 2024 (3Q2024) remained steady at 1.9 per cent, matching the second quarter (2Q2024).
Quarter-on-quarter, Malaysia’s inflation increased by 0.4% (2Q 2024: 0.6%).
Meanwhile, core inflation rose at a slower pace of 1.8% in September 2024 (August 2024: 1.9%), driven by increases in restaurant and accommodation services (3.2%), personal care, social protection, and miscellaneous goods and services (3.1%), and food and beverages (2.3%).
DoSM also highlighted that Malaysia’s inflation was lower than in Vietnam (2.6%) and the Philippines (1.9%) but higher than in the Republic of Korea (1.6 per cent), Thailand (0.6%), and China (0.4%).
