August CPI up 3.7%

August CPI up 3.7%”

The consumer price index - Malaysia's main gauge of inflation - rose 3.7% in August from a year earlier, according to a statement from the Department of Statistics. The index for transport group, that includes gasoline and diesel, surged 11.7% year-on-year.

The inflation was expected to increase to 4.9 percent.

When based on a seasonally adjusted term, the overall CPI for August 2017 increased 0.9% compared to July 2017.

The index for food and non-alcoholic beverages - which accounted for 30.2% in the CPI weights - increased 4.3% in August 2017.

ANZ Research's economist Ng Wei Wen said in a note Wednesday, the accelerated headline inflation in August, largely reflecting a faster pace of increase in transport costs and food prices.

Among the index of food items which recorded notable increases in August 2017 compared to the same period of a year ago were cooking oil which topped the list (48.9 per cent), Indian Mackerel (13.6 per cent), cuttlefish (8.2 per cent) and Hardtail Scad.

It has revised the full-year inflation target to 3.8 per cent in 2017.

On a monthly basis, consumer prices rose 0.9 percent from July, when it edged down by 0.1 percent.

"The increase in the index for Food & Non-Alcoholic Beverages was reflected in most states in Malaysia, especially those in highly urbanised states such as Wilayah Persekutuan Kuala Lumpur, Selangor & Wilayah Persekutuan Putrajaya, Pulau Pinang, Johor and Melaka", the Department added.

Core inflation rose 2.4% compared with the same month of the previous year.

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