Malaysia’s August 2020 CPI down 1.4pct year-on-year

25-Sep-2020 Intellasia | TheedgeMarkets | 6:02 AM Print This Post

Malaysia’s inflation, as measured by the Consumer Price Index (CPI), declined 1.4 percent in August 2020 from a year earlier, led by the transport segment of the index, according to the Department of Statistics Malaysia (DOSM) today.

In a statement today, the department’s chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the decrease in the CPI was attributed to declines in its segments, including in the transport gauge besides the housing, water, electricity, gas and other fuels segment at 9.9 percent and 3 percent respectively.

“The decrease in the overall index was attributed to declines in transport (-9.9%), housing, water, electricity, gas and other fuels (-3%), clothing and footwear (-0.6%), and furnishings, household equipment and routine household maintenance (-0.1%), which contributed 45.7 percent of overall weight,” Mohd Uzir said.

The CPI’s transport segment declined on cheaper petrol and diesel. In the statement, the department said the average price of unleaded petrol RON95 in August 2020 decreased to RM1.68 per litre from RM2.08 in August 2019.

The average price of unleaded petrol RON97 decreased to RM1.98 per litre from RM2.51, while the average price of diesel declined to RM1.81 per litre from RM2.18, according to the DOSM.

In monthly terms, the August 2020 CPI reading, however, increased 0.2 percent when compared to July 2020, it said.

Year to date (YTD), the CPI reading for January to August 2020 decreased 1 percent when compared to the same period a year ago, according to the department.

https://www.theedgemarkets.com/article/malaysias-august-2020-cpi-down-14-yearonyear

 


Category: Malaysia

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