BUSINESS Malaysia's CPI rises 1.3 pct in February

BUSINESS

Malaysia's CPI rises 1.3 pct in February

Xinhua

17:29, March 25, 2020

KUALA LUMPUR, March 25 (Xinhua) -- Malaysia's consumer price index (CPI) rose 1.3 percent year on year in February, official data showed Wednesday.

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Malaysian Statistics Department said in a statement that the CPI was driven by the index of miscellaneous goods and services; transport; housing, water, electricity, gas and other fuels, as well as communication.

Food and non-alcoholic beverages, which accounted for 29.5 percent of total CPI basket, grew 0.8 percent year on year.

For the first two months, the CPI grew 1.4 percent as compared to the same period last year.

Meanwhile, core index expanded 1.3 percent in February.

MIDF Research said in a note Wednesday it had revised Malaysia's inflation this year to 0.5 percent, as compared to 0.7 percent last year, following the recent dip in oil prices.

"As transport is the third biggest component in overall CPI basket, we opine these to have a significant impact to overall inflation," said the research house.

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