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Malaysia: February inflation edges up 0.1% due to goods and services, food
KUALA LUMPUR: Malaysia’s Consumer Price Index for February rose by 0.1% from a year ago due to increases in goods and services and food and non-alcoholic beverages.
The Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said on Wednesday the CPI rose to 122.5 from 122.4. On a monthly basis, the CPI increased by 0.3% from January’s decline.
“The CPI without fuel increased 0.4% in February 2021 to 113.6 as compared to 113.1 in the same month of the preceding year, ” he said.
CPI without fuel covers all goods and services except unleaded petrol RON 95, unleaded petrol RON 97 and diesel.
Commenting on the on-year February CPI, he said the increase was driven by higher prices for miscellaneous goods & services (1.6%); food & non-alcoholic beverages (1.4%); alcohol beverages & tobacco (0.7%).
Other factors were higher health costs (0.7%); furnishings, household equipment & routine household maintenance (0.3%); recreation services & culture (0.1%) and education (0.1%) which contributed 50.7 per cent to overall weight.
“Out of 552 items covered in CPI, 326 items showed an increase in February 2021. On the contrary, 147 items declined, while 79 items were unchanged, ” he said.
Mohd Uzir Mahidin pointed out transport fell by 2% to 111.6 from a year ago as this group contributes 14.6% of CPI weight.
Housing, water, electricity, gas & other fuels declined by 0.8%, followed by clothing & footwear (-0.4%) and restaurants & hotels (-0.3%).
He said the CPI for the period January to February decreased by 0.1% from the previous corresponding period.
On a monthly basis, the CPI increased by 0.3% from January due to higher transport costs (2.3%); housing, water, electricity, gas & other fuels (0.2%).
Year-on-year inflation
Mohd Uzir Mahidin also said CPI without fuel increased 0.4% in February 2021 to 113.6 as compared to 113.1 a year ago.
The average price of unleaded petrol RON 95 in February 2021 decreased to RM1.96 per litre as compared to RM2.07 in February 2020.
In addition, the average price of unleaded petrol RON 97 decreased to RM2.26 per litre as compared to RM2.37 a year ago, while the average price of diesel remained unchanged at RM2.13 as compared to February 2020.
Core index rose 0.7% in February on-year. Among the major groups which influenced the increase were miscellaneous goods & services (1.6%); food & non-alcoholic beverages (1.1%); health (0.7%).
They included transport (0.5%); housing, water, electricity, gas & other fuels (0.4%); furnishings, household equipment & routine household maintenance (0.3%); education (0.1%) and recreation services & culture (0.1%).
Core index excludes most volatile items of fresh food as well as administered prices of goods and services.
Source: https://www.thestar.com.my/business/business-news/2021/03/24/february-inflation-edges-up-01-due-to-goods-and-services-food