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Malaysia Inflation October 2022

Malaysia: Inflation plunges to lowest level since June in October

Inflation eased to 4.0% in October from Septembers 4.5%. October’s figure represented the lowest inflation rate since June. Looking at the details of the release, prices for housing and utilities increased at a slower pace in October. Meanwhile, prices for food and non-alcoholic beverages increased at a faster pace.

Annual average inflation ticked up to 3.3% in October (September: 3.2%).

Finally, consumer prices increased a seasonally adjusted 0.23% over the previous month in October, picking up from the 0.08% rise recorded in September.

Looking ahead, inflation should continue moderating, with price stability a key priority for the newly formed government. Price controls and subsidies on key food and energy items have kept a lid on inflation so far this year compared to other global peers, and will likely continue to play a key role next year. In addition, the Central Banks monetary policy tightening cycle is set to continue in order to bring inflation back within the 2.0–3.0% target range, in part by preventing steep currency depreciation that could cause import prices to swell.

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