Malaysia’s November CPI rises 4% year-on-year, in line with forecast
1:09 am Friday, December 23rd, 2022
KUALA LUMPUR (Reuters) – Malaysia’s consumer price index (CPI) in November remained at a 4% growth from a year ago, in line with expectations, according to government data on Friday.
A Reuters’ poll of 17 economists had forecast a 3.9% growth.
In October, the index had risen 4%, according to the Statistics Department.
A 7.3% rise in food prices remained the main contributor for the rise in inflation this month, chief statistician Mohd Uzir Mahidin said in a statement.
Inflation in the Southeast Asian nation has been largely contained by record government subsidies and price control measures this year.
Headline inflation has likely peaked at 4.5% in the third quarter and is expected to moderate thereafter, but it will remain elevated, the central bank said last month.
(Reporting by Mei Mei Chu; Editing by Kanupriya Kapoor)
