August 23, 2024
KUALA LUMPUR – Malaysia’s inflation grew 2% year-on-year in July, which represented the same rate of growth from the previous month, according to the National Department of Statistics.
The rate of increase in the consumer price index (CPI) was slightly below the expectations of market observers, who had projected a 2.1% increase, according to a Reuters poll.
By sector, the rise in consumer costs was led by restaurant and accommodation services, which increased 3.4% in July as compared to 3.3% in June.
Inflation for personal care, social protection and miscellaneous goods and services increased 3.2% in July, as against 2.8% in June.
Meanwhile, the food and beverages group recorded an increase of 1.6% in July, down from 2% in June, due to slower increases of 0.3% for the food-at-home and 3.2% for the food-away-from-home subgroups.
The statistics agency also said the overall monthly inflation in July rose by 0.1%, slowed from 0.2% in June.
