Controlled uptick in inflation for 2024

TA Research is forecasting a probable increase in the inflation rate for January 2024, driven by highly expected growth in transportation costs.

PETALING JAYA: Inflation is expected to pick up this year owing to a number of well-documented factors such as subsidy reforms and the introduction of new taxes, says analysts from several research houses.

The Statistics Department reported on Monday that headline inflation had eased to 1.5% year-on-year (y-o-y) in December 2023, maintaining the same rate from the preceding month, while for whole of last year, inflation saw a y-o-y growth 2.5%, down from the 3.3% seen in 2022.