Malaysia’s Inflation Eases to 2.4 Pct in June, Lowest in 6 Months

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Malaysia’s inflation eased to 2.4 percent in June from 2.8 percent in May, the lowest in the first six months of 2023, official data showed Monday.

The Department of Statistics Malaysia (DOSM) said in a statement that the slower increase in Malaysia’s inflation was driven by the lower increase in restaurants and hotels, food and non-alcoholic beverages, and furnishings, household equipment and routine household maintenance.

According to DOMS, the food and non-alcoholic beverages group, which contributes 29.5 percent of total consumer price index (CPI) weight, recorded a moderate increase of 4.7 percent, as compared to 5.9 percent in May.

Core inflation, which measures changes in the prices of all goods and services, excluding volatile prices of fresh food as well as administered prices of goods by the government, increased 3.1 percent in June as compared to 3.5 percent in May.

The monthly headline inflation in June increased 0.2 percent the same rate recorded in May 2023.

Meanwhile, the inflation for the second quarter of 2023 grew 2.8 percent from a year ago.

On a quarterly basis, inflation rose 0.4 percent as compared to the first quarter of 2023.