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Malaysia: September CPI drops 1.4% on cheaper fuel
KUALA LUMPUR: Malaysia’s consumer price index fell 1.4% in September to 120.1 versus 121.8 in the same month of the preceding year due mainly to the downward pressure on fuel prices.
Chief statistician Datuk Sri Mohd Uzir Mahdin said in a statement issued today that the segments contributing to the decrease were transport, housing, water, electricity, gas and other fuels, and clothing and footwear.
However, excluding fuel the overall CPI would have showed an increase as compared to the same month last year.
“The CPI without fuel shows a positive rate of 0.1 per cent in September 2020 as compared to September 2019.
“CPI without fuel covers all goods and services except Unleaded Petrol RON95, Unleaded Petrol RON97 and Diesel,” said Mohd Uzir.
According to Mohd Uzir, the average price of unleaded petrol RON95 decreased to RM1.68 per litre in September from RM2.08 in the same month last year.
Meanwhile, the average price of unleaded petrol RON97 dropped to RM1.98 per litre as compared to RM2.58 while the average price of diesel slid to RM1.73 per litre from RM2.18.
Food and non-alcoholic beverages registered 1.4% growth to 135.1 versus a year ago, while miscellaenous goods and services, communication and health also recorded increases.
The country’s core index gained 1% year-on-year in September with increases in miscellaneous goods and services, communication, food and non-alcoholic beverages and health.
“Core index excludes most volatile items of fresh food as well as administered prices of goods and services,” said the Statistics Department.
The CPI was steady as compared to the previous month of August.
Over the third quarter of the year, the index was down 1.4% to 120.2 from 121.7 in the previous corresponding quarter.
Compared to the second quarter of this year, the CPI was up 1.5%.
States that recorded the most decrease since September 2019 were Melaka, Sabah and Wilayah Persekeutuan Labuan, and Kedah and Perlis.
This was followed by Sarawak, Negeri Sembilan and Johor.
All states recorded an increase in the food and non-alcoholic beverages index, with biggest increases recorded in Selangor and Wilayah Persekutuan Putrajaya, Terengganu, Johor and Perak.
Source: https://www.thestar.com.my/business/business-news/2020/10/21/september-cpi-drops-14-on-cheaper-fuel