Inflation Malaysia 2024
Average inflation: 1.8%
Current Inflation
Inflation is low at 1.8%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in May at 2.0%. The lowest inflation was in January at 1.5%.
- Highest month
- May: 2.0%
- Lowest month
- January: 1.5%
- Difference
- 0.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 2.9%. The lowest price increase was in Core inflation with an average of 1.5%.
- Highest increase
- Energy: 2.9%
- Lowest increase
- Core inflation: 1.5%
Historical Context
Current inflation is around the 5-year average of 1.8%.
- 5-year average
- 1.8%
- 10-year average
- 1.9%
- All-time high (2008)
- 5.4%
- All-time low (2020)
- -1.1%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +0.7 percentage point.
- Change vs. previous year
- -0.7 percentage points
- Largest monthly swing
- January: -2.2 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €101.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 1.5% | -2.2 |
| February | 1.8% | -1.9 |
| March | 1.8% | -1.6 |
| April | 1.8% | -1.5 |
| May | 2.0% | -0.8 |
| June | 2.0% | -0.4 |
| July | 2.0% | 0.0 |
| August | 1.9% | -0.1 |
| September | 1.8% | -0.1 |
| October | 1.9% | +0.1 |
| November | 1.8% | +0.3 |
| December | 1.7% | +0.2 |
| Average | 1.8% |
Data source
Data from WorldBank. Last updated: 06/01/2026.