Malaysia's CPI grows 0.2% in May
KUALA LUMPUR: Malaysia's consumer price index (CPI) grew 0.2% in May over the same month last year, underperforming the median forecast of a Reuters poll for the index to rise 0.3% year-on-year.
It was the third consecutive month that the country's CPI expanded by 0.2% following two months of deflation.
Over the five months to May 31, Malaysia's CPI slipped 0.1% compared to the same period in 2018.
In a statement issued by the National Department of Statistics, Chief Statistician Datuk Sri Mohd Uzir Mahidin revealed that the increase was led by a 1.8% price hike in the housing, water, electricity, gas and other fuels group.
Other sectors that saw price increases were alcoholic beverages and tobacco; food & non-alcoholic beverages; education; restaurants and hotels; and furnishing, household equipment & routine household maintenance.
All other sectors showed a decrease in cost with the biggest drop coming from clothing and shoes.
"Out of 552 items covered in CPI, 244 items showed positive growth in May 2019 as against May 2018. On the contrary, 280 items posted negative growth while 28 items remained unchanged," said Mohd Uzir.