Inflation at 3.3%, above forecast

  • Economy
  • Wednesday, 17 Sep 2014

The inflation rate in Malaysia in August rose 3.3% year-on-year, compared to the 3.2% consensus of economists polled by Reuters.

KUALA LUMPUR: Malaysia's consumer price index in August rose 3.3% from a year earlier, marginally above market expectations, data from the Statistics Department showed on Wednesday.

The index rose 3.2% in July.

A Reuters poll of 14 economists had forecast the annual inflation rate in August would hold steady at 3.2%.

Inflation is gradually moderating after picking up sharply in the fourth quarter of last year through early 2014. However, economists expect temporary spikes in inflation if the government withdraws more fuel subsidies later this year and when the Goods and Services Tax (GST) is implemented in April 2015.

                    August 2014 (percentage change year-on-year)      

  Food, non-alcoholic beverages                   3.3

  Alcoholic beverages, tobacco                    11.6

  Clothing, footwear                                   -0.2

  Housing, water, electricity, fuels                 3.4

  Furnishings, household equipment             1.1

  Health                                                     3.3

  Transport                                                5.5

  Communication                                       -0.7

  Recreation services, culture                        1.8

  Education                                                2.5

  Restaurants, hotels                                   5.1

  Miscellaneous goods/services                     0.9

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