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Financial News: Malaysian Inflation Steady At 1.5%

Malaysian Inflation Steady At 1.5%

01/22/2024 - 01:53:00 (RTTNews)

(RTTNews) - Malaysia's consumer price inflation remained stable in December after easing in the previous three months, data from the Department of Statistics showed on Monday.

The consumer price index, or CPI, climbed 1.5 percent year-on-year in December, the same rate of increase as in November. That was in line with expectations.

Prices for food and non-alcoholic beverages grew at a slower pace of 2.3 percent in December versus a 2.6 percent gain a month ago.

Charges for restaurants and hotels were 3.7 percent more expensive compared to last year, and health costs rose 2.5 percent.

On a monthly basis, consumer prices moved up 0.2 percent in December after remaining flat in the prior month.

Data also showed that core inflation stood at 1.9 percent in December, down from 2.0 percent in the prior month.

During the year 2023, the average annual inflation rate was 2.5 percent versus 3.3 percent in 2022.

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