Malaysia's Inflation Rate Holds Steady in the month of July

Malaysia's inflation rate remained stable at 2% in July 2024, consistent with the levels observed since May. The Consumer Price Index (CPI) for July increased to 133.1 from 130.5 in the same month the previous year.

Key sectors driving inflation include restaurants and accommodation services, personal care, recreation, and health. The food and beverages sector saw a slower rise of 1.6%, down from 2% in June. Inflation in housing, utilities, and other categories showed consistent growth, while the transport sector's inflation rate remained unchanged at 1.2%. Notably, inflation in Penang, Sarawak, Pahang, and Selangor exceeded the national average of 2%, with Selangor experiencing the highest food and beverage inflation at 3%.

Posted on 25-Aug-2024

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