Mier forecasts 3.8% inflation, weak ringgit one reason

Higher pressure: Zakariah says there is an uptrend in inflationary pressure in the first six months. With him at the briefing is senior research fellow Zulkiply Omar (left).

KUALA LUMPUR: Malaysia is projected to record a higher inflation of 3.8% this year, primarily attributed to a weak ringgit and rising transportation-related costs, according to the Malaysian Institute of Economic Research (Mier).

Mier executive director Zakariah Abdul Rashid said the think-tank’s higher inflation projection was due to the upward pressure on prices as seen in the first half of the year. He expects the inflationary pressures to continue for the rest of the year.