KUALA LUMPUR, Aug 8 — Malaysians are paying more to dine out and travel from the April to June period as the Index for Accommodation and Food & Beverage Service Activities increased sharply to 2.7 per cent from the previous quarter, according to data from the Services Producer Price Index (SPPI) released by the Department of Statistics Malaysia (DOSM) this afternoon.
The index traces price movements of food and beverages served at restaurants and mobile food service providers, as well as short-term lodging prices and events and catering.
Prices for these services have jumped by a staggering 4.7 per cent year-on-year, DOSM said in its quarterly report.
The SPPI rose by 1.5 per cent to 111.9 in the second quarter compared to the same period last year, and 0.9 per cent from the previous quarter.
Recreation recorded the second-highest jump next to food-and-beverages and traveling, rising 3 per cent year-on-year and 2.9 per cent from the previous quarter. The index tracks amusement, recreation, gambling and betting and sports.
Transportation came in third at 1.1 per cent compared to second quarter last year, and 0.9 per cent quarter-on-quarter.
Meanwhile, prices of services for real estate, healthcare and professional industries all recorded a marginal increase of 0.3 per cent year-on-year. No increase in prices for information and telecommunications services were recorded.
Education services saw a 0.9 per cent rise in prices year-on-year.
The SPPI are intended to trace price movements that reflect the supply and demand conditions in the service markets, with a view to facilitate the analysis of macro-economic conditions and to monitor inflationary pressures.