KUALA LUMPUR (Nov 26): Malaysia's inflation, as measured by the Consumer Price Index (CPI), increased 2.9% in October 2021 from a year earlier on factors including rising fuel prices and discontinuation of electricity bill discounts by the government.

In a statement, chief statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said, "The increase (in the CPI) was mainly due to a double-digit increase of 11.3% in the (CPI's) transport group. In tandem with the rise in global oil prices, the average price of RON97 also increased to RM2.84 compared with RM1.97 in October 2020."

"Simultaneously, the index for housing, water, electricity, gas & other fuels rose 3.2% with the highest increase recorded by the electricity, gas & other fuels subgroup (27.6%)," Mohd Uzir said.

Year-to-date, the CPI increased 2.3% between January and October 2021 from a year earlier, according to the DOSM.

On a month-on-month basis, the October 2021 CPI reading increased 0.7% compared with September 2021, the DOSM said.

In September 2021, Malaysia's CPI rose 2.2% from a year earlier, according to the DOSM.

Looking ahead, Mohd Uzir said Malaysia's inflation in the coming months will be influenced by external factors such as the rise in global crude oil and food prices.

In addition, the opening of interstate travel in Malaysia is expected to affect prices of some tourism-related groups, according to him.

Get the latest news @ www.EdgeProp.my

Subscribe to our Telegram channel for the latest stories and updates 

Click here for more property stories

  1. Juwai IQI: Voters more concerned about inflation than property prices
  2. Malaysia's July 2022 wholesale, retail trade value grows 41% y-o-y to RM130.7b
  3. Malaysia's GDP contracts 4.5% y-o-y in 3Q21 amid July containment measures