In July, consumer-price growth in Malaysia experienced a slowdown, primarily driven by lower food prices. According to the country’s Department of Statistics, the July consumer-price index increased by 2.0% compared to the previous year, marking the slowest growth in 2023 so far. This figure is lower than June’s rise of 2.4% and the median forecast of a 2.1% increase based on a survey of six economists conducted by The Wall Street Journal.
Food and nonalcoholic beverages, which hold a weighting of 29.5% in the index, saw a rise of 4.4% in July, showing a slight easing compared to June’s gain of 4.7%.
Excluding volatile prices of fresh food and government-administered goods, core inflation rose by 2.8% in July compared to the previous year.
On a monthly basis, consumer prices in July increased by 0.1%, a slight decrease from June’s 0.2% rise.
Below are the inflation figures for different sectors in Malaysia in July:
CPI % Change MoM % Change YoY
Food & Non-Alcoholic Drinks: 4.4%
Housing, Utilities & Fuels: 1.7%
Transport: -0.4%
Misc Goods & Services: 2.6%
Recreation Services & Culture: 1.1%
Communication: -3.7%
