Malaysia: Inflation picks up in May, tax changes will dampen price pressures going forward
Consumer prices rose 0.17% month-on-month in May, up from April’s flat reading. The print reflected higher prices for food and non-alcoholic beverages and housing and energy.
Inflation increased from 1.4% in April to 1.8% in May, buoyed by higher fuel prices. Annual average inflation came in at 2.8%, down from April’s 3.0%, while core inflation—which excludes fresh food and administered prices of goods and services—was unchanged at 1.5%.