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Malaysia's June consumer prices rise 3.6% y-o-y, less than forecast

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Malaysian consumer prices in June rose 3.6 per cent from a year earlier, government data showed on Wednesday, slowing in pace for the third month in a row.

[KUALA LUMPUR] Malaysian consumer prices in June rose 3.6 per cent from a year earlier, government data showed on Wednesday, slowing in pace for the third month in a row.

Economists polled by Reuters had expected annual inflation to remain unchanged from 3.9 per cent in May.

Headline inflation reached an eight-year high of 5.1 per cent in March, but has since moderated.

Inflation was driven by higher fuel and food prices with the transport index rising 10.5 per cent from a year earlier, according to data from the Statistics Department.

The index for food and non-alcoholic beverages grew 4.3 per cent year-on-year, the data showed.

Malaysia's central bank has set a 2017 inflation target of 3 to 4 per cent.

REUTERS

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