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Asia   The highest reading since November 2008

Malaysia inflation hits over eight-year high in March

Malaysia inflationAccording to the National Statistical Institute, consumer prices swung from a 1.3% increase in February to a 0.1% drop in March, marking the largest decrease in six months.

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Despite the month-on-month drop, inflation in March came in at 5.1%, which was above February’s 4.5% gain.

While the figure fell short of market expectations of a 5.3% rise, it still marked the highest reading since November 2008.

March’s print was mainly the result of a low-base effect and higher prices for fuel. Meanwhile, annual average inflation edged up to 2.3% in March from 2.1% in February.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.6% in 2017, which is unchanged from last month’s projection. For 2018, the panel sees inflation stable at 2.6%.

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