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Financial News: Malaysia Consumer Prices Fall More Than Expected

Malaysia Consumer Prices Fall More Than Expected

06/24/2020 - 01:52:00 (RTTNews)

(RTTNews) - Malaysia's consumer prices declined more-than-expected in May, figures from the Department of Statistics revealed on Wednesday.

The consumer price index declined 2.9 percent year-on-year in May, same as seen in April. Economists had expected a 2.7 percent fall.

Among the main components, prices for transport declined 20.8 percent annually in May and those of housing, water, electricity, gas and other fuels decreased by 2.6 percent.

Prices of clothing and footwear, and furnishings, household equipment and routine household maintenance fell by 1.1 percent and 0.2 percent, respectively.

Meanwhile, cost of food and non-alcoholic beverages rose 1.2 percent and prices for miscellaneous goods and services grew 2.8 percent.

Cost for communication and health advanced 1.6 percent and 1.2 percent, respectively. Prices for education rose 1.0 percent.

On a month-on-month basis, consumer prices climbed 0.3 percent in May.

The core consumer price inflation was 1.1 percent in May.

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