Malaysia Sept. CPI Up 2.6% On-Year, Below Expected 2.9% Gain

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The FINANCIAL — Malaysia’s inflation eased in September due in large part to lower fuel prices, official data released on October 23 show, according to Nasdaq.

The consumer-price index, the country’s main gauge of inflation, rose 2.6% in September from a year earlier. This is lower than its 3.1% year-over-year rise in August.

The prices had been expected to rise by 2.9% year in September from a year earlier, according to a median forecast of nine economists polled by The Wall Street Journal.

The CPI contracted 0.3% in September from August, the data from the Department of Statistics show.

The weaker inflation was likely driven by lower fuel prices. Gasoline and diesel prices have come down by 10 sen to 15 sen per liter in September. However, fuel prices were raised in October by 10 sen, something that will put upward pressure on inflation for October.

 

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