Malaysia’s November CPI rises 4% year-on-year, in line with forecast

Malaysia's November CPI rises 4% year-on-year, in line with forecast
© Reuters. FILE PHOTO: A view of the Kuala Lumpur city skyline in Malaysia August 15, 2017. REUTERS/Lai Seng Sin/File Photo

KUALA LUMPUR (Reuters) – Malaysia’s consumer price index (CPI) in November remained at a 4% growth from a year ago, in line with expectations, according to government data on Friday.

A Reuters’ poll of 17 economists had forecast a 3.9% growth.

In October, the index had risen 4%, according to the Statistics Department.

A 7.3% rise in food prices remained the main contributor for the rise in inflation this month, chief statistician Mohd Uzir Mahidin said in a statement.

Inflation in the Southeast Asian nation has been largely contained by record government subsidies and price control measures this year.

Headline inflation has likely peaked at 4.5% in the third quarter and is expected to moderate thereafter, but it will remain elevated, the central bank said last month.

Source: Reuters