Wednesday, October 21, 2020

Worrying! National Inflation Rate Decreases 1.4%

 The Consumer Price Index (CPI), which measures key inflation rates, fell 1.4 percent in September 2020, according to the Department of Statistics, Malaysia.

Head of Statistics, Datuk Seri Dr. Mohd. Uzir Mahidin said in a statement that the September CPI decreased to 120.1 from 121.8 last year.

The decline in the overall index was driven by a decline in the transport index (-9.9%), housing, water, electricity, gas and other fuels (-3.0%), clothing and footwear (-0.6%), accounting for 41.6% of the total weighted.

However, said Mohd. Uzir, food and non-alcoholic beverages increased by 1.4% to 135.1 points from 133.2 in the same month a year earlier.

He added that the index group accounted for 29.5% of the overall weighted CPI.

Mohd Uzir said goods and services also showed an increase of 2.7% followed by communication (1.6%) and health (1.1%).

Apart from that, the Statistics Department also informed that the average price of RON95 petrol has decreased to RM1.68 per liter compared to RM2.08 in September last year.

The average price of RON97 petrol also showed a decrease to RM1.98 per liter from RM2.58 while diesel also decreased to RM1.73 per liter from RM2.18 in the same month last year.

The index for all states also showed a decrease between -0.8% to -2.2% for September 2020 compared to September 2019.

"However, all states are showing an increase in the index of food and non-alcoholic beverages. The highest number was recorded by Selangor and the Federal Territory of Putrajaya (2.4%), followed by Terengganu (1.6%), Johor (1.5%) and Perak (1.5%).