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Malaysia's inflation up 5.1% on higher cost of fuel


“The average price of one litre of RON95 petrol was RM2.29 in March 2017 compared with RM1.60 in March 2016. As for RON97, the average price increased to RM2.59 in March 2017 compared with RM1.95 in March 2016,” said the Department of Statistics in a statement yesterday.  Fuels and lubricants for personal transport equipment account for 7.8% of the CPI weights, it said.

“The average price of one litre of RON95 petrol was RM2.29 in March 2017 compared with RM1.60 in March 2016. As for RON97, the average price increased to RM2.59 in March 2017 compared with RM1.95 in March 2016,” said the Department of Statistics in a statement yesterday. Fuels and lubricants for personal transport equipment account for 7.8% of the CPI weights, it said.

PETALING JAYA: Higher fuel prices sent the rate of inflation for March soaring to its highest level in nearly nine years, with the consumer price index (CPI) rising 5.1%.

With the headline inflation rate the highest since November 2008 but lower than expectations, it was the transport sub-sector, which tracks the price of petrol at the pump, that contributed much to the rise in inflation after it rose 23% from a year ago as the recovering price of global crude oil pushed prices higher in Malaysia.

Economy , Oil & Gas , CPI

   

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