Kuala Lumpur, Sep 29 (VNA) — Malaysia’s inflation rate in August rose to 4.7% year-on-year, mainly driven by food and non-alcoholic beverages, according to Malaysia’s Department of Statistics Malaysia ( DOSM).
The figure, measured by the consumer price index also rose by 4.4% in July, 3.4% in June, 2.8% in May and 2.3% in April.
Food and non-alcoholic beverages rose 7.2% during that period, the department said.
Malaysia’s inflation rate is one of the lowest in the world. The August inflation rate in the euro zone was 9.1%, that of the United States was 8.3%, that of Thailand 7.9%, that of the Philippines 6.3% and that of of the Republic of Korea by 5.7%, said Minister of Economic Affairs Mustapa Mohamed.
Malaysia’s lower inflation rate is due to the efforts of the Malaysian government, which provided the biggest subsidy ever in the country’s history, he said.
On a monthly basis, the inflation rate in August increased to 0.2% from 0.4% in July.- VNA
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