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TA : Malaysia GST to spur inflation above 4%
by Cals Fri 23 May 2014, 00:10
| TA : Malaysia GST to spur inflation above 4% |
| Business & Markets 2014 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Thursday, 22 May 2014 09:46 KUALA LUMPUR (May 22): Inflation in Malaysia is seen surpassing 4% in 2015 due to the goods and services tax (GST) implementation, according to TA Securities Holdings Bhd. In a note today, TA said it expected inflation, as measured by the consumer price index (CPI), to rise between 3.8% and 4.2% in 2015. "We maintain our forecast of 3.3% inflation rate for the whole of 2014 and expect prices to inch up further to 3.8%-4.2% in 2015 reflecting the impact from the implementation of the GST. "In our latest meeting with the central bank, the policy maker reiterated the official forecast of 3.0- 4.0% for 2014, reflecting possibility of further rounds of subsidy adjustments in order to achieve the government’s fiscal target," TA said. TA said Bank Negara Malaysia's inflation forecast was in line with TA's expectation of 3.3%. According to TA, the research firm may revise its inflation forecast higher on factors including food-supply disruption due to weather changes. Yesterday, the Statistics Department said the country's CPI rose 3.4% in April from a year earlier. Cumulative four-month figure climbed 3.5% from a year earlier. |
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