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Malaysia's Aug inflation higher than forecast
by Cals Wed 23 Sep 2015, 20:42
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[size=28]Malaysia's Aug inflation higher than forecast
By Chong Jin Hun / theedgemarkets.com | September 23, 2015 : 12:20 PM MYTKUALA LUMPUR (Sept 23): Malaysia's inflation, as measured by the consumer price index (CPI), rose 3.1% in August from a year earlier. CPI grew mainly on costlier liquor and tobacco products, according to the Statistics Department.
In a statement today, the department said the CPI rise was also due to more expensive heathcare services, besides higher restaurant and hotel charges.
Cumulative eight-month CPI rose 1.9% from a year earlier, and in monthly terms, August CPI was unchanged compared to the preceding month.
In July, the CPI rose 3.3% from a year earlier.
August's on-year 3.1% CPI rise came in higher than economists' forecast. In a note today, BofA Merrill Lynch Global Research economist Chua Hak Bin said the firm had anticipated inflation to come in at 2.8%.
"Malaysia's headline inflation probably eased to +2.8% yoy in August, from +3.3% yoy in July, primarily driven by the lowering of fuel prices for the month," Chua said.
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