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Financial News: Malaysia June Inflation Accelerates As Expected

Malaysia June Inflation Accelerates As Expected

07/24/2019 - 00:55:00 (RTTNews)

(RTTNews) - Malaysia's consumer price inflation accelerated in June on low base effects, figures from the Department of Statistics showed on Wednesday.

The consumer price index rose 1.5 percent year-on-year in June, after a 0.2 percent increase in May. The rate came in line with economists' expectations.

The abolishment of Goods and Services Tax to zero on June 1, 2018 led to considerable increases in some of the sub-indices. Among main groups, furnishings, household equipment and maintenance prices grew 3.1 percent. Prices of recreation services and culture rose 2.7 percent and those of food and non-alcoholic beverages, and housing, water, electricity, gas and other fuels increased by 2.3 percent, each.

Compared to the previous month, consumer prices remained flat in June.

The core CPI rose 1.9 percent year-on-year in June.

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