Malaysia May Inflation Rises to 2.0% YoY, Highest Since July 2024 – UOB
UOB economists note Malaysia's May headline inflation rose to 2.0% year-on-year, the highest since July 2024, driven by Food, Housing, Utilities and Transport. Year-to-date inflation of 1.7% supports their full-year 2.0% forecast.
According to UOB economists Julia Goh and Loke Siew Ting, Malaysia's headline inflation in May accelerated to 2.0% year-on-year, marking the highest reading since July 2024.
The increase was mainly attributed to price pressures in Food, Housing, Utilities, and Transport components. Year-to-date inflation stands at 1.7%.
UOB maintains its full-year 2024 inflation forecast at 2.0% and expects Bank Negara Malaysia to keep its policy rate unchanged.
Source: FXStreet Forex News