{"id":2229,"date":"2008-07-24T16:23:16","date_gmt":"2008-07-24T08:23:16","guid":{"rendered":"http:\/\/poobalan.com\/blog\/borninmalaysia\/2008\/07\/24\/inflation-is-at-77-percent\/"},"modified":"2008-07-24T16:22:20","modified_gmt":"2008-07-24T08:22:20","slug":"inflation-is-at-77-percent","status":"publish","type":"post","link":"https:\/\/poobalan.com\/blog\/borninmalaysia\/2008\/07\/24\/inflation-is-at-77-percent\/","title":{"rendered":"inflation is at 7.7 percent"},"content":{"rendered":"<p>Our inflation rate used to be the <a target=\"_blank\" href=\"http:\/\/poobalan.com\/blog\/borninmalaysia\/2008\/05\/09\/lowest-inflation-rate-in-the-region\/\">lowest in the region<\/a> if we used the official value of 2.8 percent. After the fuel price increase and its domino effect across the consumer sector, it was estimated that inflation will <a target=\"_blank\" href=\"http:\/\/poobalan.com\/blog\/borninmalaysia\/2008\/06\/05\/inflation-to-be-6-percent\/\">double<\/a> to about 6%. Warning came in the form of May&#8217;s inflation <a target=\"_blank\" href=\"http:\/\/poobalan.com\/blog\/borninmalaysia\/2008\/06\/22\/cpi-to-double-in-june\/\">which was<\/a> 3.8% and some like Aseambankers <a target=\"_blank\" href=\"http:\/\/poobalan.com\/blog\/borninmalaysia\/2008\/06\/22\/cpi-to-double-in-june\/\">expected<\/a> it to be between 7.5 and 8 percent for the period July to December.<\/p>\n<p>Today&#8217;s major headlines brought the bad news &#8211; 7.7 percent for June, and its expected to be the same in July due to increase in electricity tariff. This value is a <a target=\"_blank\" href=\"http:\/\/www.thestar.com.my\/news\/story.asp?file=\/2008\/7\/24\/nation\/21905668&amp;sec=nation\">27-year high<\/a>, since 1981&#8217;s 10.8 percent.<\/p>\n<p>The substantial rise in the price of petrol and diesel announced by the<br \/>\nGovernment beginning June 5 is the main reason for the surge, said<br \/>\nDomestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad.<\/p>\n<p>Other figures announced by the minister:<\/p>\n<ul>\n<li>CPI for January to June this year had also increased by 3.7% compared<br \/>\nwith the same period last year, which was from 105.1 to 109.<\/li>\n<li>Index for food and non-alcoholic beverages for June compared to the<br \/>\nsame month last year showed high percentage change of 10.0% while the<br \/>\nindex for non-food increased by 6.7%.<\/li>\n<li>From January to June,<br \/>\nindex for food and non-alcoholic beverages increased by 6.1% and<br \/>\nnon-food 2.6%, while among the groups with high weights were transport<br \/>\n(+4%), and housing, water, electricity, gas and other fuels (+ 1.4%).<\/li>\n<li>The<br \/>\n6.1% increase in the index for food and non-alcoholic beverages was the<br \/>\nresult of increases in the index for items such as milk, cheese, eggs,<br \/>\nrice, bread, cereals, meat, vegetables, seafood, fruits, sugar, jam,<br \/>\nhoney, chocolate, confectionary and fats.<\/li>\n<li>Among the food items<br \/>\nthat recorded notable increase in the June index were tomatoes, chicken<br \/>\neggs, rice, glutinous rice, imported beef, beehoon, dried noodles,<br \/>\nwatermelon, carrots, chicken and wheat flour.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Our inflation rate used to be the lowest in the region if we used the official value of 2.8 percent. After the fuel price increase and its domino effect across the consumer sector, it was estimated that inflation will double to about 6%. Warning came in the form of May&#8217;s inflation which was 3.8% and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[115,104],"class_list":["post-2229","post","type-post","status-publish","format-standard","hentry","category-borninmalaysia","tag-economy","tag-statistics"],"_links":{"self":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/2229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/comments?post=2229"}],"version-history":[{"count":0,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/2229\/revisions"}],"wp:attachment":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/media?parent=2229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/categories?post=2229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/tags?post=2229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}