Malaysia: Inflation jumps to highest level in almost two years in October
November 22, 2013
Consumer prices rose 0.37% over the previous month in October, which was below the 0.84% increase tallied in September. The increase mainly reflected higher prices for alcoholic beverages and tobacco.
Inflation jumped from 2.6% in September to 2.8% in October, which was slightly above market expectations of an increase to 2.7%. The reading marks the highest level since December 2011. Annual average inflation ticked up from 1.7% in September to 1.8% in October.
FocusEconomics Consensus Forecast panelists expect inflation to accelerate in the months ahead and to average 2.1% in 2013, which is unchanged from last month's projection. For 2014, the panel sees inflation rising to 2.8%, which is also unchanged from last month's forecast.
Author: Carl Kelly, Economist