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Malaysia Inflation October 2020

Malaysia: Consumer prices drop again year-on-year in October

Consumer prices ticked up 0.08% on a seasonally-adjusted basis in October, after they flatlined in September. October’s increase was largely attributed to rising prices for food and non-alcoholic beverages, as well as for housing and utilities.

Meanwhile consumer prices declined 1.5% on an annual basis in October, following September’s 1.4% drop. Moreover, the annual average variation of consumer prices fell to minus 0.7% in October (September: minus 0.5%).

Commenting on what to expect with regards to the price outlook, Sian Fenner, lead Asia economist at Oxford Economics highlighted:

“We expect inflation to be negative this year, reflecting much lower global oil prices and weak domestic demand, and to move back to 2% by the end of 2021 as the impact of the sharp fall in oil prices this year fades and the government moves to a more targeted fuel subsidy scheme.”

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