Malaysia's August inflation rate picks up to 3.7% y-o-y, just above forecast
Add BT as a preferred source[KUALA LUMPUR] Malaysia's consumer price index in August rose 3.7 per cent from a year earlier, government data showed on Wednesday, coming in a little above forecast.
August's annual inflation rate was just above the 3.6 per cent forecast by economists in a Reuters poll, and up from the 3.2 per cent posted in July.
Headline inflation reached an eight-year high of 5.1 per cent in March, but has since moderated.
Inflation was driven by higher fuel costs, with the transport index rising 11.7 per cent from a year earlier, data from the Statistics Department showed.
The index for food and non-alcoholic beverages increased 4.3 per cent year-on-year in August, the data showed.
Malaysia's central bank has set a 2017 inflation target of 3 per cent to 4 per cent.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Singapore developer in limbo after Timor-Leste’s shock scrapping of major township project
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
US-China summit: Trump sees ‘better’ ties, Xi warns over Taiwan, as talks conclude
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
