Malaysia's Nov inflation rate at 3.4% y-o-y, meets forecast

[KUALA LUMPUR] Malaysia's consumer price index rose 3.4 per cent in November from a year earlier, on higher transport costs, government data showed on Wednesday.

The annual inflation rate matched the 3.4 per cent forecast in a Reuters poll, and was down from the 3.7 per cent recorded in October.

Inflation in November was driven by a hike in costs for transport, food and non-alcoholic beverages, data from the Statistics Department showed.

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

Malaysia's central bank expects 2017 full-year inflation to be at the higher end of its projected range of 3-4 per cent.

REUTERS