Currently, Malaysia's annual inflation rate is seen to have risen to a 14-month high of 4.4% in July compared to 3.4% in June.
It's not unexpected considering the market consensus projection is set at that percentage.
Stealing the spotlight, food prices hit a new record high of 6.9% from 6.1% in June, which came as consumers splurged on spending amid Malaysia's Covid-19 recovery.
Further details on inflation in July are as follows:
Housing jumped 3.8% from 1.2%.
Transportation added 5.6% from 5.4%.
Clothing rose 0.3% from 0.2%.
Scab health 0.8% from 0.6%.
Recreation reached 2.5% from 2.2%.
Education figures 1.2% from 1.1%.
Restaurants & Hotels bloomed 5.8% from 5.0%
Variety of Goods & Services reached 2.1% from 2.2%.
In addition, core consumer prices excluding fresh food items and administered prices also rose 3.4% after posting 3.0% in June.
It is understood that the post is the highest reading since March 2016.
In the meantime, looking at the monthly basis, consumer prices recorded 0.4% during July, which is a decrease of 0.6% in June, which marks the most drastic change since October 2021.
