INTERNATIONAL
Malaysia's Jan CPI dips 0.2 pct year-over-year, slower than forecast
Earlier in the month, the Malaysian government set a ceiling for pump prices amid expectations crude oil prices will trend higher this year on rising global demand. Filepic/REUTERS
KUALA LUMPUR: Malaysia's consumer prices in January dipped 0.2% from a year earlier, government data showed on Wednesday, largely due to lower retail fuel prices.
The fall in January's consumer price index (CPI) was slower than the 0.8% decline forecast by 10 economists surveyed in a Reuters poll. In December, the index dropped 1.4%.
January's decline was driven by a 5.1% slump in the transport sector, though some growth was registered in the food and non-alcoholic beverages and miscellaneous goods and services sectors, the statistics department said.
Earlier in the month, the Malaysian government set a ceiling for pump prices amid expectations crude oil prices will trend higher this year on rising global demand.
The fall in January's consumer price index (CPI) was slower than the 0.8% decline forecast by 10 economists surveyed in a Reuters poll. In December, the index dropped 1.4%.
January's decline was driven by a 5.1% slump in the transport sector, though some growth was registered in the food and non-alcoholic beverages and miscellaneous goods and services sectors, the statistics department said.
Earlier in the month, the Malaysian government set a ceiling for pump prices amid expectations crude oil prices will trend higher this year on rising global demand.