Financial News: Malaysia Inflation Eases Unexpectedly To 1.9%

Malaysia Inflation Eases Unexpectedly To 1.9%

09/23/2024 - 03:13:00 (RTTNews)

(RTTNews) - Malaysia's consumer price inflation eased slightly in August to the lowest level in four months, data from the Department of Statistics showed on Monday.

The consumer price index, or CPI, climbed 1.9 percent year-on-year in August, slower than July's steady rate of 2.0 percent. Meanwhile, economists had expected inflation to remain unchanged at 2.0 percent.

Data also showed that core inflation held steady at 1.9 percent in August.

Housing and utility costs grew at a slightly slower rate of 3.1 percent annually in August versus a 3.2 percent rise in July. Prices for food and non-alcoholic beverages rose at a stable rate of 1.6 percent, while clothing and footwear prices dropped by 0.2 percent.

On a monthly basis, consumer prices moved up 0.1 percent in August, the same as in July.

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