Malaysia's April consumer prices rise 4.4% y-o-y, below forecast

[KUALA LUMPUR] Malaysian consumer prices in April were 4.4 per cent higher than a year earlier, government data showed on Wednesday, due to rising transport and food costs.

Inflation was just below the 4.5 per cent annual pace forecast in a Reuters poll, and was down from March's 5.1 per cent, the highest rate in eight years.

Transport costs in April rose 16.7 per cent year-on-year on higher fuel prices, data from the Statistics Department showed, while prices for food and non-alcoholic beverages increased 4.1 per cent.

Malaysia's central bank said the annual headline inflation rate was 4.3 per cent in the first quarter of 2017, but is expected to moderate in the second half.

Bank Negara Malaysia has set a 2017 inflation target of 3 to 4 per cent.

REUTERS