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Malaysia Inflation September 2020

Malaysia: Consumer prices fall year-on-year for seventh month running in September

Consumer prices were unchanged on a seasonally-adjusted basis over the previous month in September, below the 0.17% rise logged in August and marking the lowest reading since April. September’s moderation was largely driven by stagnating prices for transport, communication and clothing and footwear.

Consumer prices declined 1.4% in year-on-year terms in September, matching August’s reading and falling for the seventh consecutive month. Meanwhile, the annual average variation of consumer prices dropped to minus 0.5% in September (August: minus 0.3%).

Commenting on the outlook ahead, analysts at Nomura note:

“We expect underlying inflation pressures to remain weak, as demand conditions stay subdued, exacerbated further by broader implementation of conditional movement control order in some states including Kuala Lumpur, Sabah, Putrajaya and Selangor.”

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