He attributed the rise to solid domestic demand, elevated commodity prices and disruptions in the global supply chain.

He said the inflation rate increased 3.1% from January to August this year, in line with market expectations of 3.2% for 2022.

On a month-on-month basis, August inflation was up 0.2% compared to a rise of 0.4% in July.

Nonetheless, he said, the inflation rate in Malaysia was one of the lowest in the world.

The August inflation rate in the eurozone was 9.1%, in the US it was 8.3%, in Thailand 7.9%, in the Philippines 6.3%, and in South Korea it was 5.7%.

“The lower inflation rate in Malaysia is due to efforts from the Keluarga Malaysia government that has provided the biggest subsidy ever recorded in the history of the country,” he said in a statement today.