Malaysia’s inflation rises to 4.7 pct year on year in August

Malaysia’s inflation rate in August 2022 increased to 4.7 percent year on year, official data showed Friday.

The increase was contributed by food and non-alcoholic beverages, which increased by 7.2 percent, the Department of Statistics Malaysia (DOSM) said in a statement.

Month on month, the increase in August moderated to 0.2 percent as compared to 0.4 percent in July.

This was mainly contributed by the food and non-alcoholic beverages and transport group which increased at a slower rate than the previous month.

For the period of January to August, the inflation increased 3.1 percent as compared to the same period of the previous year.

It was driven by the strong demand, commodity prices that remain high and disruptions in global supply chains.

Among the group that recorded increases were food and non-alcoholic beverages (5.1 percent), transport (4.5 percent) and restaurants and hotels (4 percent).