Inflation rate in Malaysia drops to 1.8 percent last month

(MENAFN) Malaysia's inflation rate eased to 1.8 percent in September, as reported by the Department of Statistics Malaysia (DOSM) on Thursday. The data indicated that this decline in inflation was primarily influenced by a slower increase in key categories, including personal care, social protection, and miscellaneous goods and services, which saw a rise of 3.1 percent. Other contributing factors included transport, which grew by 1.1 percent, followed by alcoholic beverages and tobacco at 0.8 percent, furnishings and household equipment at 0.6 percent, and information and communication at 0.4 percent.

In terms of the food and beverages sector, which carries a significant weight of 29.8 percent in the overall consumer price index, the group experienced a 1.6 percent increase in September. Notably, this rate of increase was consistent with the previous month of August, indicating stability in food prices. Overall, the monthly inflation rate for September remained unchanged compared to August, reflecting a period of relative price stability.

For the third quarter of 2024, Malaysia's inflation rate held steady at 1.9 percent, indicating a consistent trend in consumer price movements. When looking at the quarter-on-quarter comparison, inflation recorded a slight increase of 0.4 percent, suggesting minor upward pressure on prices during this period. The relatively low inflation rates may indicate a controlled economic environment, benefiting consumers through stable prices across various sectors.

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