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KUALA LUMPUR: Malaysia recorded a 2.8% year-on-year (y-o-y) increase in consumer prices in May amid the accelerating cost of food.

The May headline inflation was above the 2.6% median growth forecast of a Reuters poll of economists and higher than the 2.3% increase recorded in April.

In a statement, National Statistics Department chief statistician Datuk Sri Mohd Uzir Mahidin said food inflation rose to a new high of 5.2%, the highest since November 2011.

"Out of 93% of items that increased in the food group, 29.4% increased in the range of less than 5%, 37.7% increase between 5-10% while 32% increased more than 10%," he said.

Mohd Uzir noted that chicken prices, the largest component in the meat subgroup, rose 13.4% y-o-y, due to the rising cost of feed coupled with an increase in demand.

In other sectors, the cost of transport increased 3.9%, restaurants and hotels rose 3.7%, and furnishings, household equipment and routine household maintenance gained 2.9%.

"The increase in the transport group was largely due to the increase in the average price of Unleaded Petrol RON97 by 63.8% (RM4.26 per litre) as compared to RM2.60 in the same month of the previous year.

"The increase in fuel prices was a direct impact to the increase in the price of Brent crude oil (65.2%) to US$112.37 per barrel in May 2022," said Mohd Uzir.

Core inflation meanwhile was up 2.4% y-o-y in May, led by a 4.7% increase in the transport group and a 4.4% increase in the food and non-alcoholic beverages sector.


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    皇冠登三出租(www.huangguan.us)
    (2022-07-06 00:43:29) 1#

    “We will continue to apply measures to prudently manage inflation risk including hedging, effective forecasting, diversification of costs across geographical markets, factoring inflation risk into our contracts and strategic management of our inventories,” it added.早日上热门

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