Malaysia Feb inflation seen quickening to 4% year on year, highest in over 7 years: Poll
[KUALA LUMPUR] Malaysia's annual inflation rate is expected to have accelerated to over a seven-year high at 4.0 per cent in February as transport costs rose, a Reuters poll showed.
Fuel prices fell in February but higher toll costs and a low base from a year earlier were expected to contribute to the higher inflation rate, economists said.
A 4.0 per cent annual inflation rate would be the highest since December 2008 when it hit 4.4 per cent.
The consumer price index rose 3.5 per cent in January, the largest annual increase since March 2014.
The central bank has an inflation target this year of 2.5-3.5 per cent. It said in January it expected inflation to peak in the first quarter before moderating, as low energy and commodity prices persist.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons