{"id":28180,"date":"2017-01-20T16:56:43","date_gmt":"2017-01-20T08:56:43","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=28180"},"modified":"2017-01-20T16:56:43","modified_gmt":"2017-01-20T08:56:43","slug":"inflate-up-higher-food-prices","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/inflate-up-higher-food-prices","title":{"rendered":"Inflation Rate Up 1.8% Due To Higher Food Prices"},"content":{"rendered":"<p>Higher food prices pushed December\u2019s inflation rate up 1.8% from a year ago, revealed the Statistics Department, adding that the increase was slightly lower than a Bloomberg survey of a 1.9% rise.<\/p>\n<p>It said on Wednesday that the overall index for the Consumer Price Index (CPI) increased by 1.8% to 116.9 in December 2016 from 114.8 a year ago.<\/p>\n<p>The higher CPI, according to the department, was due to the increase in the indices for food and non-alcoholic beverages (+3.7%) and housing, water, electricity, gas and other fuels (+2.1%).<\/p>\n<p>In November, Bank Negara Malaysia said inflation would probably average at the lower end of the 2% to 2.5% forecast range for 2016 and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2016-11-23\/malaysia-refrains-from-cutting-interest-rate-as-currency-tumbles\" target=\"_blank\" rel=\"nofollow\">expected to remain relatively stable<\/a> in 2017.<\/p>\n<p>Malaysians have been straddled with high household debt and the rising cost of living ever since oil prices dropped, sending the ringgit crashing to an all-time low.<\/p>\n<p>Many will also crimp expenditure as the Chinese New Year draws near with <a href=\"https:\/\/www.imoney.my\/articles\/seafood-veggies-prices-cny\" target=\"_blank\">prices of seafood and greens<\/a> becoming more expensive due to the weakened ringgit and an unusually long monsoon season.<\/p>\n<p><em><a href=\"http:\/\/www.thestar.com.my\/business\/business-news\/2017\/01\/18\/higher-food-prices-push-december-inflation-up-1pt8pct\/\" target=\"_blank\" rel=\"nofollow\">[Source]<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Not a good thing.<\/p>\n","protected":false},"author":29,"featured_media":28182,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[271,292,216],"tags":[],"class_list":["post-28180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-inflation","category-news-updates"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Higher Food Prices Pushed Inflation Rate Up 1.8% In Dec 2016<\/title>\n<meta name=\"description\" content=\"An uptick of food prices has caused Malaysia\u2019s inflation rate to go up, and it might affect expenditure.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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