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Financial News: Malaysia Feb Inflation Accelerates More Than Forecast

Malaysia Feb Inflation Accelerates More Than Forecast

03/24/2017 - 00:54:00 (RTTNews)

(RTTNews) - Malaysia's consumer price inflation accelerated at a faster-than-expected pace in February to the highest level in eight years, figures from the Department of Statistics showed Friday.

The consumer price index climbed 4.5 percent year-over-year in February, much faster than the 3.2 percent rise in January. Economists had expected the inflation to accelerate to 3.9 percent.

Moreover, this was the highest inflation since November 2008, when prices had grown 5.7 percent.

Inflation was mainly driven by a 17.9 percent surge in transport costs. Prices of food and non-alcoholic beverages grew 4.3 percent, while clothing and footwear prices edged down by 0.2 percent.

On a monthly basis, consumer prices increased 1.3 percent in February, following a 1.1 percent climb in the prior month.

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