Malaysian Inflation Rate Recorded 1.8% Increase In February 2024


Malaysian inflation in February 2024 increased by 1.8% with index points recorded at 132.1 points compared to 129.8 last year.

In a statement, the Department of Statistics Malaysia (DOSM) said the increase in inflation in 2024 was driven by housing, water, electricity, gas and fuel, which was 2.7%. Meanwhile, sports recreation increased by 1.6% and transportation by 1.2%.

However, other groups recorded slower inflation increases such as restaurant and accommodation services up 2.9%, health 2.2%, food and beverages by 1.9% and education 1.5%.

The implementation of water tariffs according to the tariff setting mechanism (TSM) for domestic category users in Peninsular Malaysia and the Federal Territory of Labuan which started on 1 February also had a side impact.

Meanwhile, DOSM said the food and beverage group which accounts for 29.8% of the total Consumer Price Index (CPI) data recorded a slower increase of 1.9% in February 2024 compared to January which was 2.0%.

According to Mohd Uzir, most states recorded an increase below the national inflation level of 1.8%.

Five states recorded an increase above the national inflation level, namely Penang (2.7%), Pahang (2.4%), Selangor (2.1%), Perlis (2.0%) and Sarawak (1.9%).

Meanwhile, all states recorded an increase in food & beverage inflation. The highest increase was recorded by the Federal Territory of Putrajaya (3.2%), Selangor (3.0%), Penang (2.5%), Labuan Federal Territory (2.3%), Sarawak (2.2%), Perlis (2.2%) and Pahang (2.1 %).

Meanwhile, other states showed an increase below the food and beverage national inflation of 1.9% in February 2024.