CGS-CIMB keeps 2023 inflation forecast at 3% y-o-y

KUALA LUMPUR: CGS-CIMB Securities Sdn Bhd (CGS-CIMB) forecasts Malaysia’s inflation for 2023 to be at three per cent year-on-year (y-o-y), compared to the 2022 forecast (2022F) consumer price index (CPI) inflation of 3.3 per cent y-o-y.

Head of economics, Nazmi Idrus said the government’s intervention on matters such as chicken prices and petrol and toll fees would continue to partly contain inflation in the near term.