Malaysia June Inflation Rate at Near 3-1/2 Year Low of 0.8%
Malaysia's consumer price inflation eased to 0.8 percent year-on-year in June of 2018 from 1.8 percent in the previous month and below market expectations of 1.3 percent. It is the lowest inflation rate since February 2015, as prices were lower mainly for food and housing, following the withdrawal of a goods and services tax on June 1.
7/18/2018 5:42:22 AM
Year-on-year, prices rose at a softer pace for: food & non-alcoholic beverages (0.8 percent from 2.2 percent in May); housing, water, electricity, gas, and other fuels (1.5 percent from 2.1 percent); restaurants and hotels (1.3 percent from 2.1 percent); health (0.3 percent from 1.9 percent), and education (0.9 percent from 1.2 percent).
In addition, prices fell for: recreation services & culture (-2.5 percent from 0.5 percent in May); furnishings, household equipment & routine maintenance (-1 percent from 1.5 percent); miscellaneous goods & services (-2.6 from 0.4 percent); alcoholic beverages & tobacco (-0.7 percent from 0.1 percent); clothing and footwear (-3.1 percent from -0.7 percent); and communication (-3.9 percent from -0.9 percent).
Meanwhile, cost increased at a faster pace for transport (5.5 percent from 3.8 percent in May).
Annual core inflation eased sharply to 0.1 percent in June (from 1.5 percent), and marking the lowest figure on record.
On a monthly basis, consumer prices dropped 1.2 percent, after increasing by 0.2 percent in May.