kuala lumpur: According to the Department of Statistics Malaysia (DOSM), Malaysia’s inflation rate will be 1.8% in November 2024, down from 1.9% in October this year and the first decline since August 2021.
Chief statistician Datuk Seri Mohd Dr Uzir Mahiddin said this was due to a 2.3 per cent decline in the inflation rate in the information and communications sector, a major group.
“This was followed by inflation in transport (-0.2%) and clothing and footwear (-0.1%),” he said.
Prime Minister Mohd Uzil said in a statement today that core inflation rose at the same rate of 1.8% in November 2024 compared to October 2024.
“This increase was driven by food and beverages (3.7%); personal care, social protection, miscellaneous goods and services (3.4%); and restaurants and accommodation services (2.8%),” he said.
On a yearly basis, Malaysia’s inflation rate in November 2024 rose to 1.8% from 1.5% in November 2023.
The Consumer Price Index (CPI) in November 2024 gradually declined to 133.3, compared to 130.9 in the same period last year.
The chief statistician said the rise in inflation in November 2024 was due to slower growth rates in the key groups of health (1.2%) and transport (0.4%), while food and drink inflation rose at an annual rate of 2.6%. % was high. Compared to 2.3 percent in October 2024, cents.
He said the main groups of housing, water, electricity, gas and other fuels also showed higher growth in November 2024, at 3.2% compared to 3.1% in the previous month.
“As the inflation rate for the main subgroup of information and communication services has declined to -4.4% (October 2024: -1.7%), the inflation rate in the information and communication sector will continue to be -3.9% in November 2024 (October 2024: -1.7%). “Month: -1.7%) -1.8%),” he said.
“Clothing and footwear remains in negative territory, registering -0.3% (October 2024: -0.2%).
“Personal care, social protection and other goods and services increased by 3.4 percent; restaurant and accommodation services (2.8 percent); and recreation, sports and culture (2.0 percent),” he said.
Meanwhile, education-related inflation rose by 1.5%, followed by alcoholic beverages and tobacco (0.8%).
“Furniture, household equipment and routine home maintenance (0.5%) and insurance and financial services (0.5%) increased at the same rate as last month,” he said.
According to Mohd Uzil, the inflation rate in the transport sector slowed from 0.7% in October 2024 to 0.4% in November 2024, mainly due to slower growth in the operating costs of personal transport equipment.
Items with low growth rates include auto maintenance by 5.1% (October 2024: 5.4%), car wash services by 4.6% (October 2024: 4.7%), and motorcycle repair by 3.2% (October 2024). ). :3.6%).
Furthermore, the car purchase subgroup recorded a decrease of -0.6% (October 2024: 0.3%) due to price reductions offered as rebates to new car buyers.
“Inflation rates for diesel and unleaded gasoline RON97 remained at 15.0% and -8.1%, respectively, the same as last month,” he said.
The average price of diesel in Peninsular Malaysia was RM2.95 per liter compared to RM2.15 per liter in November 2023 (October 2024: RM2.95). However, the average price of diesel in Sabah, Sarawak and Labuan remained at RM2.15 per liter.
Mohd Uzil added that the average price of unleaded petrol RON97 in November 2024 was RM3.19 per liter compared to RM3.47 per liter in November 2023 (October 2024: RM3.19).
Regarding state-level inflation, the chief statistician said Penang (2.9%), Pahang (2.4%) and Selangor (2.1%), while inflation in Johor and Sarawak increased by 1.9%.
Compared to the inflation rates of other major countries, Malaysia’s inflation rate (1.8%) was lower than Vietnam’s 2.8% and the Philippines’ 2.5%.
“However, this percentage was higher than Indonesia (1.6%), South Korea (1.5%), Thailand (1.0%) and China (0.2%),” he added.
