Consumer prices in Malaysia decreased by 1.4 percent year-on-year in August 2020, after a 1.3 percent fall in a month earlier, more than market consensus of a 1.2 percent drop. This was the sixth straight month of deflation on the back of the COVID-19 crisis, as prices declined for transport (-9.9% vs -10.3% in July), clothing (-0.6%, the same pace as in the prior month) and furnishings, household equipment and routine maintenance (-0.1%, the same pace as in July). Meantime, inflation eased for recreation services & culture (0.6% vs 0.7%), education (1.1% vs 1.2%), food (1.3% vs 1.4%), and restaurants & hotels (0.1% vs 0.2%), while inflation was steady for alcoholic beverages & tobacco (at 0.3%). On the other hand, inflation accelerated for miscellaneous goods & services (3.1% vs 2.9%). On a monthly basis, consumer prices went up by 0.2% in August, the least since April, after a 0.7% gain in July.
Inflation Rate in Malaysia averaged 3.45 percent from 1973 until 2020, reaching an all time high of 23.90 percent in March of 1974 and a record low of -2.90 percent in April of 2020. This page provides - Malaysia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malaysia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Department of Statistics, Malaysia
Inflation Rate in Malaysia is expected to be -0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Malaysia to stand at 2.50 in 12 months time. In the long-term, the Malaysia Inflation Rate is projected to trend around 2.00 percent in 2021 and 1.90 percent in 2022, according to our econometric models.