KUALA LUMPUR: Malaysian's inflation jumped 4.4% to 127.9 in July 2022, its highest in more than a year, as the cost of food continued to accelerate.
The increase in the consumer price index (CPI), the highest since April 2021, was in line with the median forecast of a Reuters poll of analysts.
Announcing the July inflation data in a statement, the National Statistics Department said the increase in inflation was also due to the low base effect last year as a result of the electricity bill discount from 5% to 40% according to total usage given to domestic consumers.
For July, the food index rose 6.9%, serving as the main contributor the increase in overall inflation.
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"Restaurants & Hotels increased 5.8 per cent followed by Transport (5.6%); Furnishings, Household Equipment & Routine Household Maintenance (4.0%) and Housing, Water, Electricity, Gas & Other Fuels (3.8%).
"Meanwhile, Recreation Services & Culture also registered an increase of 2.5 per cent, Miscellaneous Goods & Services (2.1%) and Education (1.2%)," said the statistics department.
The core inflation and inflation without fuel registered an increase of 3.4% and 4.2% respectively in July 2022 as compared to the same month of the preceding year.
On a monthly basis, the inflation increased 0.4% as compared to June.
For the January to July period, the inflation increased 2.8% as compared to the same period last year.