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Eight-month unity govt administration sees drop in Malaysia’s inflation rate | Scoop
According to Communications and Digital Minister Fahmi Fadzil, the inflation rate in Malaysia’s communications sector also eased from 0% to -3.7% in July. – Scoop pic, August 25, 2023
News

Eight-month unity govt administration sees drop in Malaysia’s inflation rate

Country’s overall inflation rate shows substantial drop from 4.0% to 2.0%

Bernama
Updated
8:52 PM MYT

 

KUALA LUMPUR – The overall inflation rate in Malaysia decreased from 4.0% to 2.0% during the eight-month administration of the unity government.

Communications and Digital Minister Fahmi Fadzil said the inflation rate in the communications sector in the country had also eased from 0% to -3.7% in July.

“On the part of the ministry, Insya-Allah various initiatives to reduce the financial burden of the people in the communications sector will continue. We will continue to serve and work for the good of the people and the country,” he posted on his Facebook page today.

Earlier, the Statistics Department announced that the Consumer Price Index, which measures the rate of inflation in Malaysia, continued to ease to 2.0% in July 2023, which is the lowest so far this year, with the index points recording 130.5 compared to 127.9 for the same period last year.

The inflation rate, which recorded 2.4% year-on-year in June, also showed a moderate trend since January at 3.7%.

Chief statistician Datuk Seri Mohd Uzir Mahidin said the slow increase in the inflation rate was driven by lower increases for the restaurant and hotel group at 5.0%; food and non-alcoholic beverages (4.4%); and the miscellaneous goods and services group (2.6%), while both the health and education groups each increased by 2.0%. – August 25, 2023

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